News Feature
'Croatian company begins oil exploration'
24 June 2008
A Croatian oil and gas company has begun oil exploration with a $142 million (£72 million) project in northwest Iran, it has emerged.
State-owned INA signed an agreement with the National Iranian Oil Company earlier this year and began work in Iran on June 21st, said Hossein Roshandel, director for exploration affairs at the Iranian company, according to Iran's English language Press TV network.
The Croatian company, which also has projects in Croatia, Angola, Egypt and Syria, will have four to five years to drill an exploration well and it hopes to discover new reserves of hydrocarbon in the 3,230 square kilometre block, balkaninsight.com has reported.
In related news, Croatia is catching up with the rest of Europe in its usage of the internet and the number of people using broadband is growing as mobile operators in the country expand their 3G infrastructures, according to a new study by Research and Markets.
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