OIL & GAS: Government Decision to Launch Onshore Hydrocarbons Exploration
On 10 July, the government adopted a decision on the implementation of a public bid for the issuing of licences for the oil and gas exploration and exploitation in continental Croatia. According to recent statements made by Economy Minister Ivan Vrdoljak (HNS), the first tender is expected to be announced in the second half of July.
The decision is a continuation of the government’s policy of consolidating Croatia’s position on the energy map of the region and Europe. Namely, on 2 April, the Ministry of Economy already launched an international tender for the 1st offshore licensing round for the hydrocarbons exploration and exploitation of the Croatian Adriatic Sea. Bidding will close on 3 November 2014. Licences are forecast to be granted by 3 December with exploration works to begin by 3 March 2015. The tender will apply to 29 exploration blocks of the Adriatic sea bed, ranging between 1,000 and 1,600 km3 per block.
According to the aforementioned decision, the public bidding for granting onshore exploration licences will be carried out by the Government Commission for Implementing Public Bidding for Hydrocarbons Exploration and Exploitation, headed by Minister Vrdoljak. The tender will last at least six months, followed by the signing of a contract with the selected bidder within three months after the tender is closed…