Fifteen international companies have expressed interest in
searching for oil and natural gas off Montenegro as the tiny Balkan state looks
to lessen its dependence on energy imports, the country’s Economy Ministry said
today.
In December, Montenegro invited companies to express
interest in 30-year concessions to explore and produce hydrocarbons at several
locations thought to hold commercial deposits off its southern Adriatic coast.
Russian oil company Gazprom Neft and its Serbian subsidiary
NIS, Russia's largest non-state gas producer Novatek, US independent Hess and
Italian energy giant Eni were among those who sent their letters of intent to
bid, according to Reuters.
The ministry said other players included Norwegian oil company
Statoil, Total of France, Greek refiner Hellenic Petroleum , Italian utility
Edison and Croatia's INA , majority-owned by Hungary's MOL .
UK-based consortium Trajan Oil & Gas Services and
Energean Oil & Gas, Geopartners Ltd, Sterling Energy, Premier Oil and
Northern Petroleum, as well as Hungary's TDE Services were also eyeing the
project, it added.
The concession deal would include all phases of exploration,
verification, development and exploitation of the deposits with a possibility
to extend the concession duration.
The area to be included in the first exploration phase
covers 4000 square kilometres, the ministry said.
Montenegro currently has no oil production, but based on
unprocessed and fragmented data, it could cover its oil and gas needs from own
resources, according to the ministry