Novatek, Eni sign concession contract in Montenegro
Subsidiaries of Novatek and Eni signed today a concession contract with the Government of Montenegro for the exploration and production of hydrocarbons for four offshore blocks in Montenegro. Each company will participate in the concession with a 50% share, and Eni was appointed as the operator.
Blocks 4118-4, 4118-5, 4118-9 and 4118-10, comprising a total area of approximately 1.2 thousand square km, are located in the territorial waters of Montenegro.
In 2014, Novatek jointly with Eni submitted a bid for the four offshore blocks. The Government of Montenegro selected the consortium as the best bidder and passed the concession proposal to the Parliament in 2015. In June 2016, the Parliament of Montenegro resolved to conclude the concession contract with Novatek and Eni.
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