Republika Srpska: Zarubezneft and GazpromNeft commence oil drilling research project of 176MEUR

, SEE Energy News

The Company “Jadran- Naftagas”, the common company of NIS and Russian Company “NeftegazlnKor” is officially opening its first research drilling in RS.

Managing Director of NIS Kiril Kravcenko, Director of “Zarubeznjefta”, mother Company of NeftegazlnKor Aleksandar Jurevic Voronjin and high officials from the Government and RS Presidency will participate in the official opening- it is stated in an announcement from NIS.

RS Minister of Industry, Energy and Mining, Zeljko Kovacevic said in earlier statements to Banjaluka’s media that 2 potential sites of oil and gas were found in Posavina and Semberija regions on the base of previous research.

Around 5MEUR have been invested in site research during 2012 while RS expects additional 13,3 million EUR in this year- Minister Kovacevic explained.

According to the results from recently done oil-geological research, RS is estimated to have almost 50 millions of raw oil and these estimations are based on the documents that are 20 years old.

Research on territories of municipalities Novi Grad, Kozarska Dubica, Kostajnica, Prijedor, Ostra Luka, Banjaluka, Celinac, Laktasi, Doboj, Prnjavor, Lopare, Ugljevik, Bijeljina and Zvornik were done in the scope of research last year.

Research project and oil and gas exploitation has officially begun in RS in September 2011 when the concession contract on 28 years was signed with Russian partners.

This contract predicted the investment of 176,4 million EUR and opening of around 500 new work places in the process of oil and gas exploitation.