Vermilion Zagreb Exploration d.o.o.

The company specializes in onshore hydrocarbon exploration, development, and production in Croatia. Its primary activities include seismic data acquisition, exploration drilling, well testing, and field development in the Pannonian Basin. Key assets include the SAVA-07 exploration block near Kutina, where it discovered hydrocarbons in multiple wells including Zbjegovača-1I, and the SA-10 block in eastern Croatia with producing or trial-producing fields such as Berak and Cerić.

Founded in December 2014 and registered in Zagreb, Vermilion Zagreb Exploration d.o.o. is wholly owned by Vermilion Croatia Exploration B.V. in the Netherlands, part of the Vermilion Energy group. The parent company operates across Canada, Europe, and Australia, emphasizing responsible development and community investment.

In March 2024, the company entered a partnership with INA on the SAVA-07 block, holding 60% interest and serving as operator. This led to four commercial hydrocarbon discoveries in 2024. In March 2026, INA signed an agreement to acquire the remaining 60% stake for approximately EUR 15 million, subject to government approval, to consolidate 100% ownership. The company continues to hold permits and pursue other opportunities in Croatian energy sector.

With a small team of around 9-11 employees, it reported revenues exceeding EUR 43 million in 2025, reflecting its growing role in Croatia's domestic oil and gas industry.