Tender for Hydrocarbon Exploration in Dinaric Alps Announced

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ZAGREB, November 21, 2018 – Minister of Environment and Energy Tomislav Ćorić called on Wednesday on all those concerned to join the discussion of the Green Book, which will be the basis of preparing an energy strategy, and announced that a call for bids for hydrocarbon exploration and exploitation in the Dinaric Alps could be expected soon.

The Green Book, which is currently under public consultation, will serve as a platform to prepare an energy strategy of Croatia until 2030 with an outlook to 2050, and I am calling on all those interested to join and make a contribution to Croatia’s energy future, Ćorić said in an address to the 4th international oil conference organised by the JANAF and Transneft oil companies.

Speaking about the ministry’s work over the past year, Ćorić recalled that parliament had adopted a law on hydrocarbon exploration and exploitation which opened a new chapter in the context of exploration and exploitation. He recalled a recent tender for exploration and exploitation in seven fields in the Panonian Basin.

Energy stability is a prerequisite for economic growth which is contingent on a synergy of own production, development of supply routes and good infrastructure, he underscored.

Ćorić recalled that currently Croatia imports 80% of oil and 60% of gas and that it needs to reduce the dependence on imports.

He announced that in that regard a call would soon be published for exploration and exploitation in the Dinaric Alps, adding that he believes that it will attract a lot of interest. He added that Croatia should consider whether it wanted to pursue exploration and exploitation of the Adriatic and that this required a consensus.

Asked by reporters whether the government will co-finance an LNG terminal on Krk island if there isn’t sufficient interest for the terminal’s capacity lease, Ćorić said that he personally believes that the LNG terminal is an exceptional strategic interest and that if necessary the state should consider co-financing it.

State Assets Minister Goran Marić underscored that the state is the largest shareholder in the Jadranski Naftovod (JANAF), crude oil transportation company, and that it supports the company’s business growth, adding that its priority remains to be the reliable and supply security for Croatia and to meet all contractual obligations toward its partners.

The conference was also told about the significance of infrastructure in the oil transport system and of Janaf’s role in supplying southeast Europe.

Sergey Kazanstev from the Russian state-owned Transneft oil pipeline company said that Janaf and Croatia are an important partner to Transneft and Russia.

“Janaf supplies almost all of southeast Europe, and whether refineries will operate or not depends on Janaf. I believe that we are utilising our strategic geographic position in the best possible way,” Janaf’s president of the management board, Dragan Kovačević said.

He underscored that Janaf had moved from oil transportation to oil storage and that it intends to transform Omišalj on the island of Krk into a hub in the Adriatic and to become the main oil trader in the Mediterranean.

The conference in Zagreb attracted about 40 oil companies from around the world as well as experts in oil and energy to discuss challenges on the energy and oil markets, a low-carbon development strategy, the EU’s energy security strategy, safe transport issues, the increasing complexity of the oil business, growing competition, price volatility and maintaining profitability.

For more on oil exploration in Croatia, click here.


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