PODGORICA (Montenegro), January 18 (SeeNews) – The draft contracts on awarding concessions for offshore oil and gas exploration will soon be before Montenegro's parliament, local media reported on Monday, quoting the country's economy minister.
In May 2014, the economy ministry said three partnerships - Marathon Oil Corporation and OMV; Eni S.p.A. and Novatek; and Energean Oil &Gas and Mediterranean Oil&Gas filed bids in a tender for offshore drilling for oil and gas.
Negative development on the oil market and predictions made by the International Monetary Fund that the price of crude oil could drop between $5 (4.6 euro) and $15 in 2016 should not affect Montenegro's offshore drilling project, Vladimir Kavaric told Portal Analitika in an interview.
($=0.9275 euro)