Serbian oil company NIS confirmed that the crude oil produced at the Obudovac well in the Republic of Srpska (RS) will be exported to Serbia.
NIS has the concession rights for hydrocarbon exploration and exploitation through its subsidiary Jadran-Naftagas. Last week, RS Government approved the company to obtain 4,800 cubic meters of oil from an exploration well in Obudovac near Samac and test its quality and chemical technological characteristics.
This is the second time in six months that the Government is giving a permit for the exploitation of oil in that area. In June last year, Jadran- Naftagas was authorized to carry out a test extraction of 5,000 cubic meters of crude oil.
The company Jadran-Naftagas company was founded by the Serbian oil company NIS and Zarubezhneft, which later withdrew from the project. The concession contract for oil and gas exploration and exploitation was signed in 2011 for 25 years.
