Today the New Hydrocarbon Law has been adopted in the Croatian Parliament. The new Law on Exploration and Exploitation of Hydrocarbons regulates the exploration and exploitation of hydrocarbons, geothermal energy, underground gas storages and capturing of CO2.
The full process of issuance of exploration licenses and the conclusion of contracts for exploitation, fees and other issues are integrated in this new Law.
For the first time the exploitation and management of these resources are regulated in one document, which represents the ground foundation for creating a positive investment climate.
By adopting this law, all preconditions for new licenses rounds for exploration and exploitation of hydrocarbons on Croatia onshore are full filed. Furthermore, by this law in near future we can expect licensing rounds for exploration and exploitation of geothermal water for energy purposes also.
The Republic of Croatia with this new, improved law is opening the door for new investments and new potentials in the development of these branches of industry and economy in its entirety.