Gazprom Neft’s NIS unit starts oil and gas drilling in Bosnia
BY MISHA SAVIC
BELGRADE -- A joint venture of Serbia’s Naftna Industrija Srbije (NIS) and a unit of Russia’s Zarubezhneft began exploratory drilling in the Serb part of Bosnia-Herzegovina, where it has a longterm oil and gas concession.
The first drill in Obudovac, in northeastern Bosnia, is based on a $13-million investment and seismic surveys since 2011, NIS said in an e-mailed statement. Another $19.5 million is earmarked for research in 2013 in Republika Srpska, the Serb half of Bosnia, where the JV, Jadran Naftagas, has another drill planned, near the northeastern city of Bijeljina.
“The planned value of investments through 2014 is $40.7 million and $188.3 million for the exploitation phase, on condition that reserves are proven,” said NIS, which is controlled by Gazprom Neft.
NIS formed the JV with Neftegazinkor in 2011, and secured a 28-year oil and gas concession from the Bosnian Serb authorities as part of its plans to expand its resource base in the region.