Bosnia preparing to start oil exploration, again

UK consulting company IHS has lodged a bid in a public tender launched by Bosnia's Federation in search for a consultant to advise the issuing of an international public call for oil and gas exploration on the entity's territory. To recall, the interest in oil exploration was announced by the French oil giant “Total” in a letter of intent, in which was stated that they would invest a billion USD in oil exploration in the FBiH, and the petroleum companies “Key Petroleum” from Australia and “Spectrum” from Great Britain also sent their letters of intent. Recently, representatives of “Shell” showed their interest in this job again.

 

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I did follow this issue couple years ago, but can't remember why Shell withdraw from job. Bosnia could potentially contain deposits of about 1 billion barrels of oil and oil companies don't refuse that just like that. 

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Shell said at the time that following an internal portfolio review and in light of the oil and gas environment, it would not seek to extend its deal with the Federation. The agreement was extended in 2013 and 2014 to enable the parties to potentially negotiate a petroleum production licence but such negotiations never started and the deal expired. But I am sure that Shell hit the wall of corrupt politicians and weird regulations

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i see that all neighboring countries are exploring and given the geological position, I am sure that Bosnia is loaded as well

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1 minute ago, Meanwhile said:

i see that all neighboring countries are exploring and given the geological position, I am sure that Bosnia is loaded as well

Experts say that southern deposits, located at a depth of 4,000 to 8,000 meters, could contain up to 500 million tonnes of oil reserves, while northern deposits are estimated at 70 million tonnes.

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I'm trying to figure out how one agrees anything with the Bosnian government ... but this is the Federation government, not the state government, right? Are there any issues about where this oil is potentially with regard to entity borders?

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