The purchase of Edison E&P will provide Energean with insulation from oil price volatility, although the company has trimmed its capital expenditure plans in 2020.
A Croatian engineering firm has been condemned by a Labour MP for bringing in cheap foreign labour to work on British power stations - and reclaiming wages from migrant workers “under duress”.
MOL Group said it has successfully started its test production in two of its gas fields in Croatia.
Croatia has signed contracts with a local firm and one Canadian company that had been awarded onshore oil and gas exploration blocks in the north and east of the country.
Croatia's Constitutional Court has annulled two corruption convictions against former prime minister Ivo Sanader and ordered a retrial. Sanader, prime minister from 2004 to 2009, had been convicted of taking a bribe from the Hungarian oil group MOL in 2008 to allow it to take a dominant stake in Croatia's biggest utility, the oil firm INA, and also of taking a bribe from Austria's Hypo Bank in 1994 and 1995, when he was deputy foreign minister.
Rockhopper Exploration has been awarded a 40% share in an offshore block in Croatia in a partnership deal with Eni. Block 9 is located in shallow waters of the Northern Adriatic gas province and contains the previously discovered Ksenija accumulation along with the Klaudija prospect. The company said the anticipated work programme consists of seismic acquisition, processing and re-processing during the first exploration phase, with the drilling of a well in the second exploration phase.