Croatia has received one bid for gas and oil exploration in the country’s mountainous central and southern areas, state hydrocarbon agency AZU said on Sept. 10, as part of the country’s drive to reduce its reliance on imports.
The tender in the Dinarides region included four blocks that stretch over an area of 12,134 sq km (4,685 sq miles).
“At this stage AZU cannot reveal the name of the bidder nor how many exploration blocks are included in the bid,” AZU spokeswoman Zeljka Rukavina said.
Croatia imports some 80% of its oil needs and around 60% of the gas it consumes.
In August, the government awarded four licenses for gas and oil on-shore exploration and exploitation in the country’s largely flat northern areas.
Rukavina said that an expert commission would now assess the bid for the Dinarides region and a possible government decision on awarding a license would take place in the coming months.
“The Dinarides region has not been really explored so far and the available data are scarce which makes it an expensive business venture. That’s why we’re content with this one bid we have received,” she said.
Greenfield projects like the Northeast gas pipe are too risky at the moment, the company says.
At DUG Bakken and Rockies, shale executives acknowledged the headwinds, but remained optimistic about the opportunities in the Powder River Basin, the Bakken and, yes, even Colorado.
David T. Merrill has been elected to serve as CEO and president of Unit Corp., which is engaged through its subsidiaries in E&P, contract drilling and gas gathering and processing.