Zagreb, Croatia – 24th, February 2014 – Croatia’s Minister of Economy, Ivan Vrdoljak, today announced during a media briefing that prerequisites for the announcement of Croatia’s first offshore license round have been completed. He added that all is on schedule to open Croatia’s first offshore license round in April, 2014.
Minister Ivan Vrdoljak stated, “With great pleasure I announce that Croatia’s hydrocarbon agency has formally commenced work and, earlier this month, Barbara Doric was appointed as Interim President. He added, "We have defined 29 offshore blocks for the upcoming license round ranging from approximately 1000 to 1600 km2. Even though additional offshore areas have been previously available for exploration we excluded near shore and other sensitive areas. Fiscal terms have also been defined with the assistance of leading consultancy firm IHS and an extensive benchmarking exercise has been undertaken to ensure that we will be competitive with both our regional and global peers."
Barbara Doric explained, "We are now accepting bookings to our offshore data room. The data room includes legacy seismic and well data plus brute stacks of a recently complete multi-client 2D seismic survey. Our website (www.azu.hr) will be active by the second week of March and from here interested investors will be able to download the fiscal terms, block maps, the model contract and other license round details. In the meantime all oil companies that have expressed interest in the license round will receive an email invitation to visit the data room."