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Reading: The Russian Company got a Concession for extract of Oil in the North of BiH
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Sarajevo Times > Blog > BUSINESS > The Russian Company got a Concession for extract of Oil in the North of BiH
BUSINESS

The Russian Company got a Concession for extract of Oil in the North of BiH

Published: February 13, 2023
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The Government of Republika Srpska (RS) approved the Russian company “Jadran-Naftagas”, registered in Banja Luka, to take 4,800 cubic meters of oil from the exploratory well in Obudovac near Samac and examine the quality and chemical-technological characteristics.

This is the second time in the last seven months that the Government has approved the concessionaire’s exploitation of this mineral resource. In June of last year, on the same basis, they received permission to extract 5,000 cubic meters.

In the municipality of Samac, they say that they will ask for the concession contract to be reviewed, so that this local community can benefit from this natural wealth, Capital reported.

”Concessionaire “Jadran-Naftagas” d.o.o. Banja Luka undertakes to keep records of extracted quantities of crude oil during the execution of detailed geological surveys and to present the extracted quantities of crude oil in the annual report and study on reserves,” it is stated in the decision of the Government of the RS.

The company “Jadran-Naftagas” was founded by the Oil Industry of Serbia and “Zarubezhneft”, which later withdrew. The majority owner of the Serbian Oil Industry is the Russian company Gazprom. The concession contract for the exploration and use of oil and gas with the Government of RS was signed in 2011 for 25 years.

The mayor of the municipality of Samac, Djordje Milicevic, requests an urgent meeting with the relevant minister regarding the research carried out by this company in the area of the municipality he heads. According to him, in this case, the Law on Geological Explorations is applied instead of the Law on Mining, which is why Samac suffers enormous damage.

”If the Law on Mining was applied, 80 percent of the revenue from the concession fee would have accrued to Samac. In this way, they apply the Law on Geological Explorations, which directly harms the budget. Considering the large quantities involved, I expect that we will solve this problem in a conversation with the minister as soon as possible,” Milicevicexplained.

He also said that cooperation with the company “Jadran-Naftagas” is correct, but that this does not change his position, Biznis Info reports.

E.Dz.

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TAGGED:#bosnia#company#news#oil#russia
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