Total, ENI Express Interest in Montenegro Drilling License

Italian ENI (ENI) SpA and Edison SpA, French Total SA (FP), Norwegian Statoil AS (STL), Greek Hellenic Petroleum (ELPE) SA and Russian OAO Novatek (NVTK) are among fifteen companies that expressed interest in Montenegro’s license for offshore oil and gas exploration and possible production.

Other companies that responded to Montenegro’s Dec. 24 invitation for drilling off its Adriatic coast include U.S. Hess Corporation (HES), British Premier Oil (PMO) PLC and Geopartners Ltd, Croatian INA, Hungarian TDE Services, a Serbian unit of Russian Gazprom Neft (SIBN), British Northern Petroleum PLC (NOP) and a British-Greek consortium, the Economy Ministry said on its website today.

A two-year exploration concession is offered along with a 30-year license that would cover research as well as possible production from 4,000 square kilometers in the southern Adriatic, where the sea depth does not exceed 200 meters, the Ministry said. Previous exploration there indicated reserves suitable for commercial use, it said.

To contact the reporter on this story: Misha Savic in Belgrade at msavic2@bloomberg.net

To contact the editor responsible for this story: James M. Gomez at jagomez@bloomberg.net

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