Montenegro planning new tender for oil and gas explorations in undersea area

The second tender for exploration of oil and gas in the Montenegrin undersea area should open next year, to the end of signing an agreement on exploration and production of hydrocarbon, announced Minister of Economy Dragica Sekulic.

– As for future activities, we have certainly not completed the process by the contracts awarded so far. Our plan is to introduce as many concessionaires as possible to our off-shore territory, but the process needs to go in cycles – Sekulic told the Mina-business agency.

According to her, after the tender process completed in 2014, they are planning another one, which should be realized next year.

– The process of oil and gas exploration in the Montenegrin undersea area is being conducted in line with the work program which is an integral part of the contract on exploration and production of hydrocarbon. Companies Eni and Novatek are completing the environmental impact study of the seismic explorations which have been subject to public discussions in the past period – Sekulic reminded.

Once the process is completed and the necessary permit is issued by the Agency for Environmental Protection, the 3D seismic explorations will start. They will be followed by the processing of the collected data and the interpreting of the results, following which the first explorations should start, in the second half of the next year, Sekulic said.

The Greek company Energean, she added, is also carrying out the works in line with the schedule and the agreements and is currently estimating the environmental impact of 3D seismic explorations.

Ministarstvo ekonomskog razvoja Crne Gore

Agencija za zaštitu životne sredine Podgorica

Ministry of Economy of Montenegro

Dragica Sekulic

oil and gas explorations in Montenegrin undersea area

tender for oil and gas explorations in Montenegrin undersea area

exploration and production of hydrocarbon

hydrocarbon

Agency for Environmental Protection of Montenegro

Energean

Eni

Novatek

explorations of Montenegrin undersea area