International Tender For Adriatic Sea Blocks Launched
News: Croatia launched an international tender for eight oil and gas exploration blocks in the north, and 21 blocks in the central and southern part of the Adriatic Sea. The move aims to attract around US$2.5bn for exploration of the sector in the next five years. Bidders will be offered a five year exploration phase and 25-year production for the blocks covering an area of 36,800sq kilometres. Deadline for bids is scheduled for November 3 with awards expected by early 2015.