Exploration activities under the offshore oil and
gas concessions that Croatia plans to award should
start in 2015 at the latest, local media reported,
quoting economy minister Ivan Vrdoljak.
On Monday, Vrdoljak said that Croatia will open a
data room on March 10 for companies interested in
the offshore oil and gas exploration tenders that
are planned to be launched in April.
Croatia has defined a total of 29 blocks for oil
and gas exploration in the Adriatic sea, ranging
in size from 1,000 to 1,600 square kilometres.
Two wells can be expected to be drilled in each of
the blocks and since the average investment per
well is seen at $40-60 million (29.1-43.6 million
euro) some $2.5-3.0 billion are expected to be
poured into the first exploration phase, which
typically lasts for five years, news daily
Vecernji List reported on Monday, quoting
Vrdoljak.
Vrdoljak also said that the standard expectations
are for the local economy to absorb 40% of the
total investment amount. He also anticipates
lucrative deals for the local shipyards and metal
industry in the early years of exploration
activity.
Source: SeeNews
Related content
Friday, 18 July 2025
Friday, 18 July 2025
Thursday, 17 July 2025
Thursday, 17 July 2025
