Only 22% of oil potential of Vojvodina researched

The experts of "NIS Naftagas" estimated that "NIS Naftagas" researched only about 22% of total oil potential of Vojvodina during 57 years of its existence.

It has been proved that about 15% of deposits can not be exploited, which means that another 63% remained unresearched, 18% of which, according to the estimates of the geologists of "Naftagas", can not be exploited in a present technical-technological way.

When the percentages are translated into the language of numbers, Vojvodina has more than 500m tons of oil at its disposal. So far, the oil potential that has been refined amounts to 166.7m tons, while about 40m tons have been extracted from the oil fields in Vojvodina.

If 25% of 583m tons of oil that wait to be exploited was extracted, Serbia would have about 145m tons of "black gold" at its disposal. This oil could not be extracted at once, but that would guarantee stable production of about 3m tons during the next 50 years.

This estimate of the oil potential of Vojvodina has been delivered to the privatization councillor of NIS - consortium "Raiffeisen - Merill Lynch".