Energean invests in the Irena gas field development, offshore Croatia
Energean announce that it, alongside its partner INA – INDUSTRIJA NAFTE d.d. (“INA”), have taken Final Investment Decision (“FID”) for the development of the Irena gas field, offshore Croatia. Energean has a 70% working interest (“W.I.”) in the project. The development plan is for a single platform tie-back to the existing infrastructure at the Izabela field. First gas is expected in H1 2027.
Irena project overview
The Irena gas field is located in the Izabela concession, which is operated by Edina d.o.o., a 50:50 joint venture between Energean and INA. Energean has a 70% W.I. in the concession.
The concession is located in shallow water, with a water depth of around 45 metres.
P50 reserves are approximately 30.5 Bcf gross (5.4 mmboe).
First gas from the Irena field is expected in H1 2027, with peak production anticipated at around 8-10 mmscfd gross (1,400-1,700 boe/d).
The total estimated capital expenditure for the project is EUR 71 million (100% gross), with Energean’s share at EUR 50 million (70% W.I.).
Energean’s net entitlement gas will be sold under its long-term Gas Sales Agreement with INA
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