Oil reserves in Vojvodina estimated to 143m tons - "NIS Naftagas" extracted 32m tons of "black gold"

Total of 143m tons of geological petroleum reserves were discovered in Vojvodina, and the workers of "NIS - Naftagas" have, so far, extracted about 32m tons, of which value, according to the current prices of oil on the world market, is about 30 billion USD.

According to the data provided by the Energy Board of the League of Social-Democrats of Vojvodina, optimal exploitation of oil can be expected within next 20 years, which means that the annual production will amount to 12-15m tons.

The aforementioned reserves are concentrated in four municipalities of Vojvodina - Kanjiza, Kikinda, Srbobran and Zrenjanin. Current annual oil production is about 635,000 tons, which is almost 50% less than the results achieved at the end of 1980’s.

Production of gas on the local fields is very small, that is, it can not satisfy even the needs of production of Pančevo-based HIP.

The experts claim that it must not be allowed in the forthcoming privatization of the national oil company that the buyer gets oil and gas fields in the package with refineries, gas stations, storage space and buildings. Although the members of the Energy Board of the League of Social-Democrats of Vojvodina point out that they are the natural wealth of Vojvodina, we should remind that they are also production resources of Serbia.

Since about 10 years ago, about two thirds of the price of barrel extracted by "Naftagas" go to the state, which is logical when having in mind that "Naftagas" is only a service for oil and gas extracting. It should also be pointed out that, at the beginning of the 1980's, "Naftagas" got concession to extract 5% of oil from the oil field in Angola.

For that concession, "Naftagas" pays 59% of the price of barrel to Angola, and that is considered a favorable concession arrangement. In the countries of the Near East, oil is the property of the one on whose property black gold is exploited.