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Total, Key Petroleum, Spectrum wants Bosnia oil exploration concessions

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After the oil giant “Shell” abandoned the project of the exploration of the potential sites for oil and gas in the territory of FBiH it was announced that a new call for bidding will be published, as it was done, and the Ministry of Energy, Industry and Mining of FBiH headed by Nermin Džindić made the appropriate amendments to the law which was confirmed by the Parliament in the meantime.

Big companies from the UK, France and Austria, have expressed interest in the form of letters of intent for the concession for oil and gas exploration in the territory of Federation BiH. We are talking about British “Spectrum”, the French company “Total” and the Australian “Key Petroleum” stated from government.

The reason for the great interest of companies, while some of them, such as “Spectrum”, already carried out oil exploration in neighboring Croatia on the Adriatic Sea, is the obvious potential of the oil and gas locations in the territory of the Federation.

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After the oil giant “Shell” abandoned the project of the exploration of the potential sites for oil and gas in the territory of FBiH it was announced that a new call for bidding will be published, as it was done, and the Ministry of Energy, Industry and Mining of FBiH headed by Nermin Džindić made the appropriate amendments to the law which was confirmed by the Parliament in the meantime.

– Also, we have launched a procedure for making an energy strategy, and we hired a respected Institute “Hrvoje Pozar” from Zagreb which made the strategy for RS. We had significant conversations with Professor Mate Granic, who was Deputy of the former Prime Minister Ivica Racan. The aim is to develop a national strategy – said the Federal Minister Nermin Džindić.

Minister Džindić stated that with the amendments to the Law on Oil exploration the procedure was simplified in order to attract investors. In the meantime, the minister confirmed, serious meetings were held with representatives of international companies. He confirmed that the Australian oil company “Key Petroleum” sent a letter of intent December 11, in which it conveys its interest in negotiations with FBiH authorities regarding a concession for oil and gas exploration.
– From them we received a letter of intent, they gave some of their requirements, and we offered our own. The company “Spectrum” even offers to do the air screening for free and process all the old data and make a catalog of potential sites in FBiH, which would be presented in all major conferences – said Džindić.
He said that in the past three months the Federation received very important letters of intent, each of which deserves great attention.

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