Russian Neftegazincor and Gaspromneft which plan to explore oil in the territory of Republika Srpska through the Serbian Oil Industry (NIS) and Optima Group have decided to form a joint venture for oil exploration and exploitation in Banja Luka, according to a Serbian daily Vecernje novosti.
A spokesperson for the industry ministry of RS said the registration is expected to happen shortly.
Concrete exploration activities are not expected before the spring of 2011. NIS and Optima Group representatives signed a MOU about this in Banja Luka on 16 July this year, and the estimated value of exploration was said then to be around USD 150 million.
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