Dean of the Faculty of Technology and Mining in the town of Tuzla, told local media that some 500 million tonnes of oil could be located in several locations in the northern Bosnia as well as further south in Herzegovina in a the depth of between 4,000 and 6,000 metres.
In the past, local media have occasionally touched upon the possibility of oil deposits under Bosnia and Herzegovina. According to informations, British Petroleum, BP and American Oil Company, AMOCO, were interested in potential oil resources in Bosnia even before its 1992-1995 war.
In cooperation with these two companies, one of the biggest Bosnian construction firms, Energoinvest, carried out a research which proved the existence of oil pools in the northern region of Posavina, as well as in several locations in the south.
The original report indicated, that Bosnia may have oil resources as big as Saudi Arabia or Iraq.