The Russians have decided to withdraw from the project of oil exploration and exploitation in the territory of Republika Srpska, that is, from the company Jadran – Naftagas, the Capital portal has learned.
Jadran – Naftagas was founded in 2010 by the Russian joint stock company Neftegaz Innovative Corporation (NeftegazInKor) and Naftna industrija Srbija (NIS).
NeftegazInKor is owned by Russian Zarubezhneft, which is the majority owner of the Brod Oil Refinery, the Modric Oil Refinery and the Nestro Petrol gas station chain, eKapija business portal reports.
Jadran-Naftagas was established to primarily deal with exploration and production of oil and gas, and related activities related to crude oil extraction, natural gas extraction, service activities in oil and gas extraction (except exploration works), and field testing by drilling and drilling .
From the beginning, it has been operating at a loss, which in 2018 was higher than 774,000 BAM.
In June 2011, Jadran-Naftagas received a concession for exploration and use of crude oil and gas in the territory of Republika Srpska for 28 years.