Located in the relatively shallow water of the prolific Northern Adriatic gas province, the block comprises the previously discovered Ksenija accumulation along with the Klaudija prospect.
Work on the block would include seismic acquisition, processing and re-processing during the first exploration phase, which is for three years, while drilling will be carried out in the second exploration phase if Rockhopper elects to proceed to the second phase.
Additionally, production sharing contract would have to be signed with the Croatian Hydrocarbon Authority by 2 April 2015.
Rockhopper chief executive Sam Moody said: "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."
Oil and gas exploration and production company, Rockhopper Exploration, has interests in the North Falkland Basin and the greater Mediterranean region.
