Montenegro to end negotiations on offshore oil, gas concession by end-Feb '15

After the completion of negotiations, the government will be handed a report on the tender procedure and a draft agreement for awarding concession while the final decision will be adopted by the parliament, the Montenegrin government said in a statement on Thursday.

Bids in a tender were filed by three partnerships - Marathon Oil Corporation and OMV; Eni S.p.A. and Novatek; and Energean Oil &Gas and Mediterranean Oil&Gas, the country's economy ministry said in May.

The decision on defining blocks for the award of concession contracts for production of hydrocarbons includes 13 blocks covering 3,191 square kilometres. Most of the area is part of the former Ulcinj block.