Oil exploration in the RS

, SEE Energy News

The RS Minister of Industry, Energy and Mining Željko Kovačević said that, based on recent results of oil exploration and gas in the RS, which are extremely encouraging, two potential areas are of commercial prospect—in the areas of Posavina and Semberija.

Kovačević said that the project of oil and gas exploration will enter one of its most important phases in February.

‘’According to the information from ‘’Jadran Naftagas’, in mid-February the first two wells will be located, and in the second quarter we can expect the first drllling to commence’’, said Kovačević.

He says that for last year around 11.6 million KM were invested in this project, while this year the RS expects an added 26 million KM to be invested.

Kovačević said that for the RS the presence of Russian investors is very important, both in the power sector and in the oil and gas sectors.

The research project and exploration of oil and gas officially began in the RS on 26 September, when the concession agreement with Russian partners was signed for a period of 28 years.

Source sarajevotimes