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Serbia gets another oil company

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By the end of 2011 plans will be published for building the new thermal power plant of 32MW, near the coal mine “Štavalj”, which production will be expanded, and during this period Serbia will get a new oil company, dealing with exploitation of oil shale deposits in Aleksinac, it was said yesterday in Belgrade, at parliamentary committees of Mines and Geology.

In underground coal mine “Štavalj” near Sjenica, which reserves are proven 200 million tones, it was planned annual production of at least 2.3 million tones, enough for new power plant over the next 50 years, said State Secretary of Ministry of Environment, Mining and Spatial planning Zlatko Dragosavljevic, at the meeting of this Committee.

According to the Secretary of State, Dragosavljevic, the value of investments in Pešter plateau is about 750 million euros, which will provide employment of about 750 people.

Dragosavljevic noted that there is some skepticism about the success of the project in Electric Power Industry of Serbia (EPS), but the ministry believes that such plans, which include a strategic partnership-have a perspective. Secretary of State has indicated that by the end of the year will be established another oil company in Serbia, to deal with the exploitation of oil shale deposits in Aleksinac.

Dragosavljevic explained that the oil shale deposits can annually produce about 600.000 tons of crude oil, significant amounts that could substitute imports of “black gold” in Serbia.

Presenting the report of the Ministry in the first half, Dragosavljevic said that the mining sector recorded growth of 17.8 percent exploitation for the first eight months of the 2011, which is more important when it is consider that other industries have stagnated or declined in the same period last year.

This year started 15 investment projects for the development of mining, including “Štavalj”, and one of the most important projects is the study of ore deposits of lithium and boron in Jader, carried out by Canada’s “Rio TInto”, planning to invest about 27 million dollars in next three years , to start operation in 2014, said Dragosavljevic.

In the coming years, oil Industry of Serbia plans to invest about 60 million dollars in oil and gas exploration in Serbia also announced Dragoavljevic.

Dragosavljevic reminded that last week Serbian government adopted a bill on mining and geological research, prepared by Ministry and sent to the Parliament, and announced adopting two strategies for the management of energy resources and to restructure the coal mine “Resavica” by the end of the year.



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