Nafta Industrija Srbije (NIS) formally completed the takeover of Jadran-Naftagas on 26 March 2020, after former 34% partner Zarubezhneft had signalled in 2017 that it would exit the joint venture. Jadran-Naftagas holds the Posavina & Semberija exploration licence which covers approximately 24,500 sq km in the Pannonian Basin, on the Republika Srpska autonomous region of Bosnia & Herzegovina. It was awarded on 26 September 2011 with an initial three-year exploration phase which has been extended until September 2023. It contains the Obudovac field discovered by Obudovac 2 (2015, 2,800m TD), which commenced production in 2019. The contract is the only licensed acreage in Bosnia & Herzegovina, however the Federation of Bosnia and Herzegovina (FBiH) is currently holding a round for four onshore blocks, open for bidding until 27 May 2020. NIS' wholly-owned subsidiary Jadran-Naftagas operates Posavina & Semberija with 100% equity. 
Not Found