ZAGREB: Croatia on Friday launched an international tender for oil and gas exploration in the east of the country that would hopefully bring investments to revive its sluggish economy.
The tender follows the one launched by the European Union's newest member in April, for exploration and drilling for oil and gas reserves in the Adriatic, which raised concerns of environmental groups in the tourism-oriented country.
A total of six exploratory areas in the Drava and Sava rivers basins and eastern Croatia of between 2,100 to 2,600 square kilometres (811 to 1,005 square miles) are being tendered, Economy Minister Ivan Vrdoljak said on Friday.
The area was the main one for oil and gas production in Croatia since the 1970s but it has failed to live up to its potentials, he said in a statement.
The tender was to conclude on February 18, 2015 but then be followed by two more, the minister added.
"High interest of key global players in oil and gas business for exploration in Adriatic proved that Croatia can and should be the regional leader in energy" supply, Vrdoljak said.
According to local media reports, Russian energy giant Gazprom chief Alexei Miller, on a visit to Zagreb earlier this month, expressed interest in drilling exploratory wells in Croatia.
More than 40 firms, including Gazprom and the US oil giant Exxon Mobil, were interested in the 29 exploration blocks in the Adriatic, local media reported.
Croatia's economy has not grown since 2008, and according to the World Bank, business activity is tipped to stagnate this year as well.
The former Yugoslav republic produces about 60 percent of its own natural gas, while the remaining 40 percent comes from Russia.
Croatia imports 80 percent of its annual oil needs, while average annual domestic oil production is 500,000 tons.
Officials here emphasise Croatia's good oil and gas infrastructure, including the Adriatic pipeline system JANAF, access to a network of refineries in the region as well as ports and shipyards along the coast as the country's main advantages for investors.
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