ZAGREB, 27 May 2021 - Draft amendments to the Act on Establishing the Hydrocarbon Agency,  which was discussed by lawmakers on Thursday, will expand the agency's powers and adjust its activities to the exploration and exploitation of geothermal resources and underground gas storage.

The economy and sustainable development ministry's state secretary Ivo Milatić informed the parliament that the agency's participation in amending zoning plans would be also expanded.

Milatić said that only 18% of Croatia's needs for oil were now covered by production from domestic sources, and therefore it was important to find new sources.

The logic behind the production of energy from renewables would be to offset the difference between the market and producing price so as to make production efficient.

Vesna Vučemilović of the Homeland Movement party said that hydrocarbon reserves should be preserved as a raw material for the chemical industry.

Ante Deur of the ruling Croatian Democratic Union (HDZ) announced support to the draft amendments, underscoring that the exploration and exploitation of hydrocarbons created a strong impetus to developing the industry and supporting activities, and to economic growth too.

60 exploitation fields

Croatia has 60 exploitation fields, 57 on the continental shelf of the country and three offshore. The Agency plays an extremely important role as it ensures optimum level management of hydrocarbons and petroleum product reserves, and of geothermal sources, Deur said.

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Hydrocarbon Agency promoted the newly signed exploration contracts as a turning point in domestic production