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Exploring hydrocarbons in continental Croatia could be lucrative: official

Xinhua, June 9, 2015 Adjust font size:

The head of the Croatian Hydrocarbon Agency Barbara Doric said Monday that exploring gas and oil in continental Croatia could bring between 3 and 6 billion Croatian kuna (between 445.9 and 891.8 million U.S. dollars) for the state budget.

Doric made the remark when she presented the strategic feasibility study and the framework plan for exploring and harvesting gas and oil in the Croatian eastern continental region of Slavonia.

Last Wednesday, the Croatian government gave licenses for exploration and exploitation of gas and oil in rivers Drava and Sava basin to three companies.

Doric said the negotiations for contracts with the companies will take place soon and it could take up to three months to reach agreement.

First screenings of the terrain can be expected next year, first exploration drilling in 2017 and full-scale exploitation can be executed in five years, she added. (1 U.S. dollar = 6.7 Croatian kuna) Endit