Croatia’s first offshore license round opens

Posted on 03 April 2014

Croatia’s Minister of Economy Ivan Vrdoljak has opened Croatia’s first offshore license round in Zagreb, Croatia, in the presence of representatives from more than 30 international oil and gas companies and many oil industry experts and dignitaries.

The offshore license round comprises a total area of 36,823 sq km divided into 29 blocks with all 29 blocks available in the license round. The fiscal terms are based on a production sharing agreement model with a 5-year exploration phase and a 25-year production phase. Bids are due on 3 November.

“Croatia has offshore production, however, more importantly (Croatia) remains highly underexplored and presents excellent potential for substantial oil and gas discoveries,” Mr Vrdoljak stated. “Over the past year, we took the necessary steps to establish the hydrocarbon regulatory and fiscal framework, plus streamlined bureaucracy and removed obstacles to investment so that oil industry investors can now focus on exploration and production of hydrocarbons.”

“We are continuing with our outreach to oil and gas companies by hosting a Croatia Road Show next week at the Houston AAPG convention,” said Barbara Dorić, acting President of the Croatian Hydrocarbon Agency. “Our offshore data room is open, and we are working to open our onshore data room in the near future for an upcoming onshore license round.”

The Croatian Hydrocarbon Agency is responsible on behalf of the relevant governmental ministries and institutions for the exploration and exploitation of onshore and offshore hydrocarbons and storage of natural gas in the Republic of Croatia.

Click here for further information on the Croatian Hydrocarbon Agency.

 

Leave a Reply

*

FEATURED MICROSITES


Recent Drilling News

  • 31 July 2014

    Eni discovers gas and condensates offshore Gabon

    Eni has made a gas and condensates discovery in the Nyonie Deep exploration prospect in block D4, approximately 13 km offshore Gabon and 50 km from the capital city Libreville...

  • 31 July 2014

    Blue Ocean Technologies: Subsea well intervention completed in 6,700- ft record depth

    Blue Ocean Technologies has set multiple records in subsea well intervention by intervening in, and subsequently plugging and abandoning, a production gas...

  • 30 July 2014

    Fugro’s DeepData pod provides data for deepwater riser monitoring

    Fugro has delivered a motion dataset from the BOP stack and lower riser of two deepwater wells in the Barents Sea using its DeepData pods. The DeepData pods...

  • 28 July 2014

    SDI completes 500th MagTraC MWD Ranging project

    Scientific Drilling International (SDI) has completed the 500th MagTraC MWD Ranging project. MagTraC was introduced in 1998 to target challenging applications...

  • 28 July 2014

    Modular offshore rig design reduces deployment costs

    William Jacob Management (WJM) has introduced an offshore rig design that reduces deployment costs and improves speed-to-market for upstream operations. The 3,000-hp...

  • Read more news