Montenegro offshore oil and gas block concession

Overview:

• Novatek and Eni have signed concession contract with the Government of Montenegro for the exploration of hydrocarbons for four offshore blocks in Montenegro
• The blocks cover a total area of 1,228 square kilometers
• The concession is granted for a period of 30 years, the exploration activities will be divided into two stages and the borehole drilling is expected to begin this year
• Eni was appointed as operator and both companies participate with 50% share in the deal 

Anna Kozakova - Journalist