Montenegro: Oil exploration concession advisory awarded to Norway Advokatfirmaet Simonsen Vogt Wiig

30. January 2015. / SEE Energy News

The Montenegrin economy ministry said it has signed a contract with Norway’s Advokatfirmaet Simonsen Vogt Wiig for consulting services in the negotiating process for the award of a concession for offshore hydrocarbons production.

The total value of the 12-month contract is 300,000 euro the contract posted on Friday on the ministry’s website indicated.

In December, the Montenegrin government said that the negotiations with the bidders in the offshore oil and gas exploration and production tender are expected to be completed by the end of February at the latest.

In May, the economy ministry said bids in the tender have been filed by three partnerships РMarathon Oil Corporation and OM,  Eni S.p.A. and Novatek and Energean Oil & Gas and Mediterranean Oil & Gas.

The decision on defining blocks for the award of concession contracts for production of hydrocarbons includes 13 blocks covering 3,191 sq km. Most of the area is part of the former Ulcinj block.

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