Oil exploration activities to start in 2018 – Montenegro, 4 January 2017

Companies Eni and Novatek, which were awarded concessions for exploration and exploitation of oil and gas in Montenegrin part of the Adriatic Sea, have paid 109,000 euros to the state budget as the area usage fee for last year, while additional 386,000 euros will be paid soon as fees for 2017.
Following the successful completed negotiations, on 14 September 2016, in accordance with the decision of Montenegrin Parliament, companies Eni and Novatek concluded concession contracts for hydrocarbons production in offshore blocks 4118-4, 4118-5, 4118-9 and 4118-10.

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