Further to the company's Mediterranean Operational Update announcement of 12 December 2014, Rockhopper Exploration plc, the oil and gas exploration and production company with interests in the North Falkland Basin and the Greater Mediterranean region, has announced that it has been awarded a 40% interest in offshore Block 9 in Croatia in partnership with Eni (60% interest and operator).
The block is located in the relatively shallow water of the prolific Northern Adriatic gas province and contains the previously discovered Ksenija accumulation along with the Klaudija prospect.
The anticipated work programme consists of seismic acquisition, processing and re-processing during the first exploration phase (3 years) with the drilling of a well in the second exploration phase (if Rockhopper elects to proceed to the second phase).
Signature of a Production Sharing Contract with the Croatian Hydrocarbon Authority must be completed by 2 April 2015.
In addition, and as previously announced, Rockhopper has also applied for acreage in the first offshore licensing round in Montenegro. The outcome of such application is expected in Q1 2015.
Sam Moody, Chief Executive of Rockhopper, commented:
"We are delighted to be partnering with the leading international producer in Croatia as we build our position in our second core area of the greater Mediterranean region following the acquisition of MOG. This represents an outstanding low cost opportunity to increase our acreage position in an area with proven hydrocarbons."
Adapted from press release