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.
Recommended Reading
Crescent Point Energy to Rebrand as Veren Inc.
2024-03-21 - The company will seek shareholder approval for the change at its upcoming annual and special meeting of shareholders on May 10.
SM Energy Adds Brookman to Board, Promotes Lebeck to Executive VP
2024-02-23 - Barton R. Brookman previously served as President and CEO of PDC Energy and James B. Lebeck served as senior vice president and general counsel since January 2023.
The OGInterview: Petrie Partners a Big Deal Among Investment Banks
2024-02-01 - In this OGInterview, Hart Energy's Chris Mathews sat down with Petrie Partners—perhaps not the biggest or flashiest investment bank around, but after over two decades, the firm has been around the block more than most.
Petrie Partners: A Small Wonder
2024-02-01 - Petrie Partners may not be the biggest or flashiest investment bank on the block, but after over two decades, its executives have been around the block more than most.
Kissler: OPEC+ Likely to Buoy Crude Prices—At Least Somewhat
2024-03-18 - By keeping its voluntary production cuts, OPEC+ is sending a clear signal that oil prices need to be sustainable for both producers and consumers.