Majors join race for Croatia blocks in Adriatic Sea

Croatia received six bids in a tender for licences to explore promising new area's in the country's sector of the Adriatic Sea, the Ministry of Economy said

The tender, covering for 29 blocks, opened in April this year. The new areas are generating interest, not only amongst international oil companies, but also in Brussels and Washington, which are looking to counter the influence of Russia in Europe's energy markets. The Croatian government is expected to choose the best bids by the end of the year and to sign concession agreements in the first quarter of 2015. The concession agreements will be granted for a period of up to 30 years, the economy ministry said in a statement. It added that bidders have shown interest in 15 of the 29 exploration blocks on offer. The ministry did not disclose the name of bidders, but on 3 November Croatian daily