Environment Energy Mining Watch SEE|News|The search for billion barrels of oil in the FBiH to start

The search for billion barrels of oil in the FBiH to start

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The Ministry of Energy, Mining and Industry of FBiH should issue a public call for expressions of interest for oil and gas exploration in the FBiH by the end of November, after the oil giant “Shell” gave up on this job last year. This was confirmed by Nermin Dzindic, Federal Minister of Energy, Mining and Industry.

It is necessary that the Government of BiH announces the public call for the selection of an international consultant to negotiate with potential researchers’ of oil and gas in FBiH before the public call, which will also be completed soon.

However, when it comes to expressed interest in exploration, Dzindic says that the French oil giant “Total”, which announced in the letter of intent that they would invest a billion USD in oil exploration in the FBiH, is the most interested company that contacted FBiH Government so far.

“Total” is the fourth largest oil company in the world, with annual revenues exceeding 250 billion USD and a total of 100,000 employees. It operates in more than 130 countries worldwide. They have already been in meetings at the Government of FBiH several times. Besides “Total”, the oil companies “Key Petroulem” from Australia and “Spectrum “from the UK expressed the interest as well. All of these companies sent a letter of intent long time ago.

Oil search, according to the decision of the Government and interested companies, will be carried out in the area of Dinarides, which includes the site from Bihac, through Dreznica, to Stolac, where, according to estimates, there is more than a billion barrels of oil.

Esad Hrvatovic, President of the Council body, said that the job of the committee, which should hold the first meeting in the next few days, is to monitor the whole procedure concerning the public call.

“Our role is to give some recommendations and opinions related to the preparation of tender documents. We will see. Everything was slowed down a bit, but the Government announced that the public call will be announced at least until the end of the year,” said Hrvatovic.
source: sarajevotimes.com

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