Nov 22

Croatia Starts Tender on Continental Oil and Gas Research

Croatia started a tender for on-shore hydrocarbon exploration to boost investments and reduce dependence on gas imports from Russia and other countries.

This is the first of three continental tenders planned that will cover a total of six research blocks, each between 2,100 square kilometers (1,305 square miles) to 2,600 square kilometers, along the Drava and Sava rivers, Economy Minister Ivan Vrdoljak told reporters in Osijek, eastern Croatia. The tender will close on Feb. 18.

“We expect to sign the first concession contracts by July 2015, and this will be a great development opportunity for this part of the country,” Vrdoljak said. “Croatia has proven hydrocarbon resources in this region. Exploiting them can help the country become an energy leader in the region.” Continue reading