NIS’s Bosnian Venture May Start Exploratory Drilling Next Year

Naftna Industrija Srbije AD (NIIS), majority-owned by Russia’s OAO Gazprom Neft (GAZP), said its joint venture with a unit of OAO Zarubezhneft may start drilling for oil and gas in Bosnia-Herzegovina next year.

The first exploratory drill is planned for the first quarter of 2013, based on seismic surveys by Jadran-Naftagas d.o.o, the NIS’s venture with Neftegazinkor, the company said today in an e-mailed statement. The location of the drill will be determined after the seismic data is processed, the Novi Sad, Serbia-based company said.

The companies secured a 28-year oil and gas concession last year from Republika Srpska, the Serb half of Bosnia, and pledged $40.7 million for exploration and $188.3 million for possible production, if commercial reserves are found, NIS said.

To contact the reporter on this story: Misha Savic in Belgrade at

To contact the editor responsible for this story: James M. Gomez at

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.