Bosnia: New Law for Oil and Gas Exploitation to boost foreign investments projects

11. June 2013. / SEE Energy News

BiH Government determined yesterday a Proposal of this Law after House of Representatives and House of Peoples had adopted Gas and Oil Exploitation Law Draft last year and then the public discussion was held.

This Law arranges conditions, methods and procedures of contract issuance or oil and gas exploitation issuance on the BiH territory on the base of sustainable energy sector directives.

The main goal is to provide predictions for continuation of geological research of oil and gas on BiH territory. This makes preconditions for provision of energy and stimulations for industrial and social development.

The Law prescribes the determination of oil and gas reservoirs and quality for planning and construction of modern energy objects and infrastructure with high degree of energy efficiency respecting “Strategic plan and program of energy sector development” what would provide predictions for sustainable development of energy sector.

Obligation of respect and implementation of law directions that refer to protection and management of the environment with minimal influence was précised.

Obligation of BiH Government and canton government obligation to stimulate and support oil and gas research were prescribed, too. Developmental programs and environmental protection projects will predict possible environmental influences without prevention of research and energy exploitation development.

This law predicts stimulation of oil fields’ recycling with waste byproducts in order to provide repeated use, decrease or return of their byproducts and land which is damaged or where no research is being done to be repaired or rehabilitated.

It is planned to use improved science and technological research in exploitation in order to provide financial assets in the budget for further investments of oil and gas in BiH.

There is no law for this area in our neighborhood or EU with exception of Montenegro that has a law which regulates research and exploitation of oil and gas.

Source; Serbia Energy See desk/Fena

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