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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Tags: Energean, exploration, gas, hydrocarbons, Montenegro, oil