Draft agreement for offshore hydrocarbons exploration with Energean signed – Montenegro, 29 June 2016

The Montenegrin Ministry of Economy announced that it has signed a draft concession agreement for offshore oil and gas exploration and exploitation with the company Energean Oil & Gas for blocks 4219-26 and 4218-30.
In a statement released by Energean, the company notes that the west side of the Adriatic Sea has proven to be a particularly productive area for both oil and natural gas. However, the east side of the Adriatic remains yet unexplored, while it is evident that it also possesses hydrocarbons potential.

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