Zornić: Oil reserves in the FBiH are small, but with the renovation of terminals they can now be multiplied!

Written by: A. Čorbo-Zećo

It is no secret that preserving energy independence is among the top patriotic goals, but the path to it is not easy.

In the shadow of complex property-legal relations, audit reports, various obstructions, accumulated long-standing problems, and a complicated administration, the transformation of an important resource owned by this country and its people has been taking place.

This is exactly how the President of the Management Board of the Operator Terminals of the Federation of BiH, Hermedin Zornić, describes his work so far, admitting that the terminals of the Federation of BiH existed before the management he leads, but for the sake of the employees, management, and himself, as well as what was before and what we have now, it is only right to draw attention to what has been done.

With four strategic terminals, the Federation will soon be able to store liquid cargoes that will allow it to fulfill mandatory oil derivative reserves in accordance with Directive 2009/119/EC.

"This is extremely important for ensuring the supply of oil derivatives in the event of a threat to the energy security of BiH due to extraordinary supply disruptions.

I am happy that all this has been done during my mandate in the leadership of the Terminals of the Federation of BiH," Zornić emphasizes.

As an illustration of the situation, he offered photographs of the previous state and where we are today.


Before renovation

"The pictures are from Blažuj and Živinice, and we are soon heading to Krajina and our Bihać, where the Management has resolved property-legal relations, prepared the main execution project (GIP), carried out a revision, completed the Public Procurement process, and selected the most favorable contractor. We are waiting for the appointment of the Supervisory Board to obtain approval for signing the contract with the contractor and begin the long-awaited (over 25 years) investment process," Zornić points out.

The renovated terminals of the Federation of BiH for oil storage are of great importance for Bosnia and Herzegovina, as such renovated terminals enable an increase in oil reserves in Bosnia and Herzegovina. This is precisely where the story lies, because accumulated funds cannot be spent without adequately renovated terminals. Simply put, you cannot pour fuel into a river!?

"Oil reserves in the Federation of BiH are very small, and with the renovation of terminals they can now be multiplied. One of the requirements set by the Energy Community before the Federation of BiH is to ensure mandatory reserves of petroleum products for 90 days.

The Federation of BiH will be able to fulfill this requirement after the completion of the investment cycle.
By renovating the terminals, Bosnia and Herzegovina will reduce its dependence on oil imports, which can contribute to the stability and security of the country's energy sector," Zornić stated, saying in an interview with NAP that he rarely speaks publicly, but cannot allow blanket stories and criticisms that are not based on truth.

"Investments in the renovation of oil terminals will contribute to the country's economic development, creation of new jobs, and attraction of additional investments.


After renovation

Overall, the renovation of the oil terminals of the Federation of BiH has the potential to bring numerous benefits to Bosnia and Herzegovina, both on the energy and economic fronts. A particular challenge for every country is the supply of energy sources, especially liquid ones," he further emphasizes.

And the real struggle for the survival of the Terminals was difficult and painful.

"We ended the long-standing stagnation of these strategic facilities by resolving property-legal relations, designing, defining project tasks, and finally through concrete investment at all locations owned by the Oil Terminals of FBiH.

The significance of the rehabilitation of continental terminals for the Federation is immeasurable," added Zornić, emphasizing that he is giving an honest account to the owners, the Government, and the citizens of the Federation of Bosnia and Herzegovina.