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Serbia Plans 1 Billion-Euro Shale Oil Joint Project, Blic Says

Oct. 7 (Bloomberg) -- Serbia will seek a partner for an estimated 1 billion euro ($1.35 billion) investment to tap oil shale reserves in the country, Blic newspaper reported, citing a government official.

The government plans to own 51 percent of the future venture whose operations should begin by 2016, near the southern city of Aleksinac, the report quoted Deputy Mining Minister Zlatko Dragosavljevic as saying.

To contact the reporter on this story: Misha Savic in Belgrade at msavic2@bloomberg.net

To contact the editor responsible for this story: James M. Gomez at jagomez@bloomberg.net

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