Montenegro offers concessions for shelf exploration, hydrocarbon production.

By bne IntelliNews January 10, 2011
The economy ministry offered a 30-year concession for hydrocarbon production and a two-year concession for shelf exploration, the cabinet press office informed. The South Adriatic Basin, which covers the area of the potential concession contracts, is a production basin with a sediment layer up to 18km. Most of the territory subject to the concession is located in an area where the depth of the sea ranges from zero to 200m, while the maximum depth is 1,000m. The production concession contract covers exploration, verification, development and production. It can be extended after the original 30-year period expires. The interested parties shall provide their bids by Feb 15, at the latest.

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