We’ve been holding on to this nugget for some time, waiting for one of the last pieces of the puzzle to near position. Now it’s time: Bosnia and Herzegovina has untapped oil and gas potential that stands to be better than that of Albania, the largest producer in the region. One supergiant is already here, very quietly, and the cat is about to be let out the bag—but we’re letting you in on it before that happens. Timing is everything.
There’s a lot of background to this, most of it’s complicated and political—a lot of which is too long and complex to include here—but Oilprice.com’s intelligence services can fill in the blanks for anyone who is interested beyond what we bring you here.
This is the short list of what you need to know:
• Shell has the exclusive right to continue where Amoco left off, and depending on exploration success, the first well could be in late 2013 or early 2014, with exploitation by 2015
• Albania is the regional leader in oil production, with Patos-Marinza oilfield one of the biggest onshore fields in Europe (original oil in place is around 7.5 billion barrels); but Bosnia may have even greater potential with a similar investment pattern
• What we’re waiting for now is final approval of draft oil and gas legislation by parliament, which is expected right after the summer break