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Republic of Croatia Government Is Investing in New Onshore Projects

The government of the Republic of Croatia affirmed decisions on issuing licenses for the exploration and manufacturing of hydrocarbons at six onshore exploration blocks in Croatia. Twenty-five new exploration wells are planned as a part of the new cycle of onshore exploration for which Croatia has awarded licenses. Adding to this the exploration already underway in Eastern Slavonia, there are plans to drill roughly 30 new wells within the Pannonian Basin over the next five years.

Lately, the Republic of Croatia has been making essential efforts into further developing energy assignments, with an emphasis on revitalizing domestic oil and gas manufacturing, and the initial positive results and new gamers participating in the initiatives confirm that the Republic of Croatia is indeed a severe and desirable partner.

The license for exploration and manufacturing within the Sava-07 exploration block was awarded to the Canadian Firm Vermilion Zagreb Exploration d.o.o., which is already performing exploration works within the area of Eastern Slavonia. INA – Industrija nafte d.d. was awarded exploration licenses for two exploration blocks, Drava-03, and North-western Croatia-01.

Two new firms plan to take part in exploration tasks within the Republic of Croatia, the US oil firm Aspect Holdings, LLC, whose subsidiary Aspect Croatia was awarded an exploration license for the Sava-06 exploration block, and the Croatian oil firm Crodux derivati dva d.o.o., which is able to perform exploration works in Sava-11 and Sava-12 exploration blocks.

The SA-6, SA-7, DR-3 and SZH-01 exploration blocks within the Pannonian Basin have already been confirmed as prolific and rich by earlier exploration, i.e., all parts of a hydrocarbon system are present and exhibit high potential for added new exploration works aimed at distinguishing new hydrocarbon reservoirs. Three years later the signing of the deal, the first onshore license round has yielded the first results.

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Heather Freeman

Heather leads the Crude Oil Column. Her team comprises of four associates, along with them, Heather takes care of the stories written under the column. She has a vast knowledge of oil refiners across the globe, machinery used, current trade developments, the US’ alliance with oil-rich countries, and a lot. Heather is a Finance degree holder from New York University.

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