Montenegro approves Energean to explore in the Adriatic

By Staff reporter 16 March 2017

Greece’s Energean has signed a concession contract with Montenegro to explore two offshore oil and gas blocks in the Adriatic Sea.

Energean will invest $19 million over seven years in the 4219-26 and 4218-30 blocks. The work will include a 3D seismic survey as well as geophysical and geological studies, Energean said in a statement, and will involve drilling a single well.

The company will start shooting 3D seismic in the first quarter of next year.

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