This is an oil and gas redevelopment project in the north east of Slovenia, an area that has been producing oil and gas since 1943. The exclusive right to carry out these activities was granted to Geoenergo d.o.o. in 2002 by the government of the Republic of Slovenia in the form of an exploitation concession contract. The 97 km2 area covered by this concession contract is in the Mura Depression and is bordered by Hungary in the north and the Mura River and Croatia in the south.
The project is being undertaken by two companies which have together signed a Joint Operating Agreement (JOA). The JOA governs the relationship between the partners and how they conduct the financial and operational business of the project. These two companies are Geoenergo d.o.o., the Concession holder and Ascent Slovenia Limited, the Project Manager. Together they are referred to as ‘the partners’ or ‘the joint venture’.
Another important member of the project team is Petrol Geoterm d.o.o. ('Geoterm'). Geoterm is the owner and operator of certain infrastructure on the concession and has been appointed by the JV partners as the Field Operator.
For more information about these companies, click here.