On July 21, 2026, Croatia's INA Group announced that the first well of the North Adriatic Sea multi well drilling project, Ana-4 DIR, had been drilled, with a daily gas production of approximately 160000 cubic meters from three reservoirs tested. This marks the official start of the five well investment cycle worth approximately 65 million euros, and the drilling platform is being dragged down to the next well location. On the same day, INA signed a 500 million euro revolving credit agreement to provide financial space for subsequent investments.

The Five Well Plan is fully implemented

The first well Ana-4 DIR is located in an existing production gas field in the North Adriatic Sea, with a total depth of 1282 meters. The drilling operation was completed by the Rabin self elevating platform and operated by CROSCO, a subsidiary of INA. The company stated that there were no accidents during the drilling and completion process of the well, which meets the highest industry standards.

At present, the platform is being towed to the IKA JZ-6 DIR well site, and subsequent drilling work will continue to advance. The new drilling plan is based on discoveries made by the end of 2025, when INA confirmed approximately 220 million cubic meters of new natural gas reserves in two wells on the IKA-A platform, with IKA A-1 R DIR producing approximately 120000 cubic meters per day.

500 million euros of credit landed

On the same day, INA signed a multi currency revolving credit agreement worth 500 million euros, with a term of five years and two one-year extension options, which can be used for general corporate purposes and acquisitions. The transaction is coordinated by Erste Group and Privredna banka Zagreb, with ING Bank acting as the agent, and a total of 12 banks participating. Keywords: underwater drilling, oil and gas

The previous 300 million euro credit agreement will be cancelled. The Chairman of INA Management Committee stated that the new agreement enhances the company's financial stability and provides greater flexibility for future investment planning. Croatia's monthly natural gas production from January to March 2026 will be between 55 and 62 million cubic meters. If all new wells are put into operation, it is expected to supplement domestic production.Editor/Cheng Liting