Croatia will increase its energy independence and enable a better quality of life for its citizens due to the increase of budget revenues.
Energy resources are the basic raw material for every industry and a prerequisite for the development and progress of the economy. Today, imported energy sources are very expensive, so domestic production of hydrocarbons will contribute to the security of supply, it will potentially reduce oil and gas prices for end users and reduce the deficit of foreign trade of the Republic of Croatia as well, and will ultimately increase the competitiveness of domestic industry, both in the domestic and foreign market.
Direct revenues of the state budget generated from the production activities, can reach several billions of kunas per year. Increased budget revenues will result in greater investments in development, education, health and social system, culture and other sectors which have direct effect on the everyday life of Croatian citizens.
Other countries with the access to the adriatic sea also perform exploration and production operations.
Neighbouring countries with the access to the Adriatic Sea: Italy, Montenegro and Albania, have been exploring and/or producing hydrocarbons. Due to that fact, Republic of Croatia and all its citizens have the interest to share benefits as well as minimize the risks of exploration and production of hydrocarbons. We should, like our neighboring countries, wisely manage our all available resources.
Through further exploration and production of hydrocarbons, Croatia will have more input over such activities of our neighboring contries in the Adriatic Sea. In this way, in the future we will act as an active and engaged co-creator of environmental and security policies, insisting on the best practices in each segment and Croatia will lead by example.
Comparison of exploration and production activities of countries which have access to the Adriatic sea: