Government plans new hydrocarbon tender in autumn – Montenegro, 23 May 2018

Montenegrin Ministry of Economy is planning to publish another tender for awarding a concession for the exploration of oil and gas in the Adriatic Sea in the autumn, in order to collect data, process and interpret it, thus increasing the level of knowledge about the potential commercial hydrocarbon deposits.
Montenegrin state will be the owner of collected data and through signed agreements it will allow companies to provide data to a large number of their clients. The profit generated by this activity, after covering the expenses, will be split between the state and the company in ratio that will be proscribed in the concession agreement. When the concession agreement expire, the data and the right of their usage will exclusively belong to the state. It is considered that the state will generate significant revenues from the sale of such data.

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