Experts from Norwegian oil companies and law firms, along with Sarajevo’s Energoinvest, met on Friday with the federal minister of energy, mining, and industry, Vahid Hećo, and the Norwegian ambassador to BiH, Jan Braathu, to discuss the creation of a legal framework for oil exploration in the Federation of BiH.
As Minister Hećo pointed out, there is currently no legal framework in the Federation of BiH regulating this area, which is why the legal assistance and expertise of Norwegian companies is welcome. – It is time to legally regulate this area. Research conducted before the war showed that there is oil in at least three locations in FBiH, which is why we instructed Energoinvest to continue this research. The key prerequisites for further work will be the drafting of a law that will regulate this issue – said Minister Hećo.
Representatives of Norwegian companies, whose services are funded by the Ministry of Foreign Affairs of that country, stated that the aim and purpose are not only to attract foreign investors but also to ensure that the Federation of BiH, as well as the local community, benefit as much as possible from the legislation that would regulate exploration and later the exploitation of this resource. Minister Hećo also mentioned that this is a suitable moment to create legal prerequisites for this area, as many companies are currently interested in building an oil refinery in the Federation of BiH, from which the market of the European Union would be supplied according to the highest standards. (E. J. Felić)
