Croatia launches its 1st offshore licensing round

Croatia’s Economy Minister Ivan Vrdoljak today officially opened the first public tender for the granting of licenses for the exploration and exploitation of hydrocarbons in the Adriatic Sea.

“After years of deadlock, we have created the conditions for a large investment in exploration and exploitation of hydrocarbons,” Vrdoljak said.

The area offered for Licensing Round is on the offshore part of the Adriatic Sea that belongs to the Republic of Croatia as part of its continental shelf.

Licences shall be granted to Selected Applicants to carry out exploration on Blocks on the basis of competitive applications. The area consists of 29 exploration Blocks.

According to the Croatian media, around twenty oil companies have expressed interest in being part of the first licensing round in Croatia. According to Slobodna Dalmacija, Exxon Mobil, Total, Marathon Oil and Eni have already signed preliminary agreements to acquire the Adriatic sea seismic imagery from Spectrum.

Offshore Energy Today Staff, April 02, 2014

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