Croatia launches its first offshore licensing round
The Republic of Croatia launched its first offshore licensing round on 2 April 2014. On offer are 29 blocks, with exploration potential in gas and oil prone plays covering shelf to deepwater environments. While over 16 tcf and 218 mmbbl of commercial gas and liquids reserves have been discovered in the Adriatic Sea to date, most is located in the Italian sector. The Croatian Adriatic remains underexplored and offers promising exploration potential.