Montenegro: Norwegian model should be applied for oil and gas exploration

12. August 2015. / SEE Energy News

Montenegro wants to share concessions for the oil and gas exploration and production of in the Montenegrin coast to the six distribution companies applied for the tender, Economy-Energy Minister Kavaric said.

He told reporters that the decision of the Government of Montenegro was expected in the next few weeks and that currently were negotiating with all participants in the tender.

“What interests us is to enable all companies to come in and do their oil and gas exploration in our offshore, that the highest possible area be affected by agreements and of course to ensure as much work”, Kavaric said.

Minister of Economy of Montenegro said that there were no talks about state participation, but only on the level of work, who would do it and on which surface.

Kavaric said that Montenegro wanted to apply the so-called Norwegian model in the oil and gas exploration and production, which provides “optimum results in terms of the state.”

Tender for oil and gas in Montenegro was closed in mid last year, and the companies that applied were the US Marathon Oil Corporation and Austria’s OMV, Italy’s Eni, Russia’s Novatek, Greek Energean Oil & Gas and British Mediterranean Oil & Gas.

The tender envisages the award of a concession for oil and gas exploration in Montenegro in the 13 units of the former Ulcinj unit with total area of ​​3,191 square kilometers.

Download as PDF :

Download PDF