SEVERAL FOREIGN COMPANIES WANT TO EXPLORE FOR OIL IN BOSNIA

SARAJEVO, Bosnia (October 3,2008) - Several foreign companies have expressed their interest in oil exploration in Bosnia, after an invitation was issued a month ago, according to the Bosnian main energy company Energoinvest’s Assistance General Director Ibrahim Bosto.

He declined to name them, but said the companies are based in the United States, Canada, Croatia and some Arabic countries. It is not an exaggeration to say that there is considerable interest to explore for oil and gas in Bosnia, according to the same source.An international tender should be announced in three weeks.

All interested companies will need to submit bank guarantees, Bosto said, adding that in the century-old history of looking for oil in Bosnia, this is the most concrete step in that direction so far. Still, it will be years before the exploitation actually starts, he said.
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