Shell to search for oil in Bosnia-Herzegovina

After six-month negotiations with the Federal Government of Bosnia-Herzegovina, the British-Dutch oil company Shell has signed a Memorandum of Understanding, which will provide it with a permit to conduct a geological exploration of oil and gas on the territory of the Federation of Bosnia-Herzegovina, the Sarajevo Oslobodjenje daily writes.

By the decision of the federal government, the oil and gas exploration has been declared an activity of special interest to the Federation of Bosnia-Herzegovina. Minister of Energy of the Federation of Bosnia-Herzegovina Erdal Trhulj announced that the first wells could be drilled as early as in 2014, whereas oil exploitation may commence in 2015. The Government of the Federation of Bosnia-Herzegovina has promised to deliver the documentation on oil explorations carried out in the period 1970-1990 to Shell within three months after the MoU is signed. The first oil exploration and exploitation activities took place in the Tuzla basin, which is why it is assumed that that canton is the richest in oil in Bosnia-Herzegovina.

Shell U.K. London

Vlada FBiH Sarajevo

Ministarstvo energetike i rudarstva RS