After the House of Representatives and the House of Peoples of the FBIH Parliament in November last year adopted a draft law on research and exploitation of oil and gas in the FBIH, followed by a public consultation, the FBIH government at yesterday’s session approved the proposal of legal documents, according to RTV Slon.
This law regulates the conditions, manner and procedure for the award of contracts and execution of exploration of oil and gas in the FBiH on the principles of sustainable development of the energy sector.
The main objective of the act is to ensure the conditions for the continuation of geological research of oil and gas in the FBiH. This, as well as identifying reserves of oil and gas creates the conditions for ensuring energy resources and incentives for economic and social development.
The act stipulates establishing reserves and the quality of oil and gas as the basis for the planning and construction of modern energy buildings and energy infrastructure with a high level of energy efficiency, taking into account the ‘strategic plan and program of development of the energy sector of the FBiH that would make the conditions for the sustainable development of the energy sector’.
The act provides for the encouragement of recycling oil fields with waste by-products in order to allow for re-use, reduction or return of the products, and that damaged land or land not being used for research is rehabilitated.
It is envisaged that the research and exploitation will apply to advanced scientific and technological research, and that the funding will be provided in the budget for further research of oil and gas in the FBiH.
(Source: ekapija.com)
