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INA Still Analysing Oil Drilling Contract Following Withdrawls

JM1

Croatian oil giants INA have said that they are yet to make a final decision concerning the signing of the exploration and exploitation agreement…

INA were issued with licences to explore and exploit oil and gas at two locations in the Adriatic but on Wednesday confirmed that they were still analysing the agreement following yesterdays news that two companies also issued with licences had pulled put due to Croatia having unresolved border disputes with Montenegro.

”INA is currently in the process of analysing the draft agreement proposed by the Croatian Hydrocarbon Agency, as well as the newly-risen circumstances”, INA officials said.

U.S Marathon Oil and Austrian company OMV pulled out of contract negotiations yesterday. The government has said that they will be issuing neće tenders in the autumn.

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