Croatia: Oil concession in Adriatic to be prepared by UK HIS Global consultant

, SEE Energy News

The other two bids have been fallen because of tenderers did not submit documents of good repute and proof of payment of taxes and contributions. While the Norwegian company Spectrum still performs recording in the Adriatic Sea, the Ministry of Economy will soon sign a contract with a consultant for preparing and implementing a tender for exploration and exploitation of the underworld of the Adriatic, the consultant will be respected British consulting firm IHS Global.

Their offer, in fact, only one of the three received meets all the required propositions of the public competition held in December. With IHS Global offers submitted two other group of tenderers. The first communities were the law offices of Zeljko Velic Dvorscak and partners from Zagreb, and Karanovic & Nikolic from Serbia, and experts in the oil and gas Stevo Kolundzic and Igor Dekanic.

Another common offer came from legal and financial consulting firm Greenberg Traurig Maher and seven other American consultants and energy experts (Kenneth Minesinger, Ashley Brown, William Garner, Jude Kearney, Danielle S. Kemp, Vicky McPherson and Patrick Pope). Both bids, however, did not have attached documents of good repute for all members of the community. Moreover, in both cases, there was no evidence of payment of overdue taxes and contributions for pension and health insurance.

IHS Global time remained the only competitor in the game: it has fulfilled all the conditions of the tender, it has the necessary experience in the preparation and tendering for the exploration and exploitation of hydrocarbons, and its offer is satisfactory in terms of cost. The highest price that the state was willing to pay for this job is five million kunas excluding VAT, and IHS Global has offered their services to 4.37 million kunas excluding VAT.

According to the tender of the Ministry of Economy, counselor shall not be paid the down payment, and fee will be paid to him upon completion of services. Ministry of Economy expects from IHS Global primarily to develop him a model of competition and negotiation with investors in the exploration and exploitation of oil and gas, based on the fiscal parameters that are optimal for the state. He is expected to propose evaluation criteria, to advise the evaluation and selection of investors and to participate in negotiations with interested investors. All these activities should then be completed in 13 months, and contract with IHS Global will, as confirmed by the Ministry of Economy, concluded a week since standstill period still runs.

As far as Spectrum, the Ministry points out that the final end of recording in the Adriatic Sea is expected at the end of January, followed by data processing and documentation that will be offered to oil companies interested in a survey in the Adriatic Sea. Plan of the Ministry was that the first international competition for the concession is published in the second quarter of 2014.

Source; Serbia Energy See Desk

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