Croatia Seen Getting at Least 10 Bids in Offshore Oil, Gas Tender

Croatia is expected to get at least ten bids in the first licensing round of an offshore oil and gas tender, local media reported on Monday.

The bidding deadline in the tender, launched in April, expires at 1400 Zagreb time on Monday.

Bids are expected to be filed by ExxonMobil, Chevron, Total, Enel and Croatia's INA alongside some other U.S. companies, news daily Vecernji List reported, quoting unnamed sources close to some of the biggest oil majors.

According to the daily, the potential Russian contenders have instead opted to bid in the onshore oil and gas exploration tender that Croatia called in July.

In the first offshore licensing round, Croatia should secure investors for 10 of the tendered 29 blocks in the Adriatic Sea, Vecernji List said, adding that blocks in the southern and middle parts of Croatia's continental shelf drew the highest interest.

The 29 blocks on offer cover approximately 36,823 square kilometres (sq km), ranging in size between 1,000 and 1,600 sq km each.

The country's economy ministry said in a statement on Monday that the relevant contracts with the investors are expected to be signed in the first quarter of 2015.

According to Vecernji, the assessment of the received bids should be completed by November 30 with production on the awarded blocks seen starting from 2019. A second offshore licensing round is expected to be launched in March, the newspaper added.

Source: SeeNews