Croatia Mulls Bids for Slavonia Oilfields

Croatia's Economy Minister, Ivan Vrdoljak, on Wednesday said an independent committee would review bids for on-shore oil and gas tenders in eastern Croatia.

The government opened the offer for gas and oil exploration and exploitation in the continental region of Slavonia in eastern Croatia along the Sava and Drava rivers last July.

This tender is the second of its kind. In January, Croatia chose bidders for an off-shore tender to explore oil and gas along the Adriatic coast.

"We are very pleased with the received offers. As expected, these are companies with extensive experience using the latest technology and meeting the most demanding environmental standards," Vrdoljak said.

He did not mention the names of companies owing to the conditions of the tender, but noted that seven companies had applied in all.

Six exploration and exploitation fields, ranging from 2,100 to 2,600 square kilometres in  size, are on offer in this first tender.

Vrdoljak said the tender was designed to attract foreign investment, boost the economy, increase employment and secure the country's energy supply. Croatia's stated aim is to become the "energy hub in the region".

Barbara Doric, director of the hydrocarbon agency, CHA, which is managing the tender process, said it would take the expert committee two months to review the bids and choose the winning six.

Contracts between the government and chosen companies will be signed by July 18.

Slavonia has long been seen as Croatia's richest region in terms of oil potential, but it has not been fully exploited owing to the wars of the 1990s and for other reasons.

The government estimates that around 5.2 billion euro of investments will need to be made in the first five-year exploration...