Croatia has launched the country’s 2nd onshore license round offering seven onshore blocks all located in Croatia’s prolific Pannonian Basin. This is the second of three planned onshore license rounds.
The seven exploration blocks offered in this license round are located in Croatia’s highly prolific Pannonian Basin. The total acreage available is 14,272 km2. The available blocks range in size from 1361 to 2634 km².
Croatia’s Pannonian Basin is well-known and has a long history of producing oil and gas fields. Areas of the basin, including the available acreage, remain underexploited with respect to new pools or missed pay opportunities. Preliminary analysis of the seismic and other available data confirm that the available acreage contains significant remaining potential.
Croatia created conditions for large investments in exploration and exploitation. At Croatia’s 1st Onshore License Round opened in July 2014, six onshore exploration blocks were offered, covering area of Drava, Sava and Eastern Slavonia. Upon closing of License Round the Croatian Government awarded licences to INA-INDUSTRIJA NAFTE Ltd., a Croatian company, and Canadian company Vermilion.
To further streamline bureaucracy and remove obstacles to investment, the Government of Croatia earlier this year implemented a new hydrocarbon act. The new hydrocarbon act was necessary to usher in a new era of hydrocarbon license rounds which is beginning with this license round and will continue with an upcoming license round for blocks along Croatia’s Dinarides thrust belt.
With forthcoming licensing round for Dinarides, new improved pro-investment law, excellent existing oil and gas infrastructure and with ongoing new ones, Croatia will definitely increase its competitive advantage in this region.
The tender documentation for Croatia’s 2nd onshore license round is available and can be downloaded from the following link: https://www.azu.hr/en/open-licensing-rounds/
Bids are due the 28th of June, 2019.