The government of the Federation of Bosnia and Herzegovina and the Dutch Shell company on Thursday signed a memorandum of understanding paving the way for the start of the search for potential crude oil reserves in that entity of Bosnia and Herzegovina.
The document, signed in Sarajevo by the federation entity's Prime Minister Nermin Niksic and the head of the Dutch oil giant's department for research and strategy, Marcus Antonini, envisages the preparation of digitalised geological and geo-physical maps and tables with data on potential crude oil deposits.
Some of the research conducted in Bosnia in the second half of the 20th century indicated that crude oil reserves might be discovered in Bosnia and nearby countries.
In the event of positive findings which would prove the profitability of opening oilfields in Bosnia, the first oil wells are likely to be set up in 2013.
The search for potential deposits of petroleum and natural gas in the other entity - the Republic of Srpska - has already started.
