Montenegro: Energean Oil & Gas claim that there are oil and gas in the region and even in Montenegro

Published on 24. June 2014., SEE Energy News

The independent Greek Company Energean Oil & Gas, focused on Eastern Mediterranean and North Africa, submitted the application for three units for oil and gas exploration in Montenegro to the consortium with the British because “there is it everywhere in the environment”.

President and Chief Executive Director of Energean Oil & Gas Mathios Rigas said to have a “flawless performance” in the field of safety and security at work, because they were building near a sensitive ecological area, only four miles from the traditional global tourist destination – the island of Thasos in Greece.

“There were no environmental incidents or accidents caused by our activities, why we are very reliable as an operator “, said Rigas for “Vijesti”.

Tender to explore the Montenegrin sea bed from Ulcinj to Budva was completed recently and six companies within three consortiums have applied.

“Vijesti” sent the same questions to each one about their intentions and offer content, but only the Energean submitted answers.

Bidders are Marathon Oil from Texas and OMV from Vienna, Italy’s Eni and Russia’s Novatek, Greek Energean with the British Mediterranean Oil and Gas. From OMV was announced that they did not want to comment their offer, but they always were looking for new mining field. From Marathon Oil was said to await the end of the year and a decision on the contract awarding and they could not make comments.

“At this stage, all items related with bids are strictly confidential and therefore we are not able to reveal many details, but what we would like to point out that after the gas and / or oil be discovered and production begins, your state will have a huge benefits, as it will get about 70 percent of total revenue “, said Rigas.

The company he leads, as he says, is the only oil and gas producer in Greece. They operate in the offshore of Prinos Field, Kavala, in northern Greece for more than 30 years.

Asked why they believed the Montenegro’s offshore had oil and gas, Rigas said that a similar situation was in the region, and analogy it had to be some stock in the Montenegrin part.

He said that in Italy was proved the existence of gas and oil fields such as Aquilla, Rospo Mare, Monte Alpi and Tempa Rosa. One of the largest land production fields in the territory of Europe, as he said, was the Patos Maritya, located in Albania, with five billion barrels of oil.

“Shell has recently announced a new discovery in Albania, with calculated reserves of 200 million barrels of oil, and Delvian Gas is the largest land gas field in southeastern Europe. Western Greece has the same indicators in these fields. Thus, there is evidence in the wider area and borders cannot change the geology”, he said.

Also interested in Croatia tender

A similar tender was present in Croatia and the Greeks announced their participation in this work.
“The deadline for the submission on Croatia tender is set for November. Our geologists calculate and study all the available data in the context of a possible wider “The Adriatic field”, based on assumptions. Since Energean searches for possibilities in the wider area, most likely that we will be present in this international tender “, said Rigas.