Speaking in a TV show of the country’s public broadcaster RTCG, a spokesperson of the Montenegrin Hydrocarbon Administration, Jelena Savković, said the preliminary data on oil research in the Montenegrin coast will be known by the end of 2019 or the beginning of 2020.
She also announced the first hole would be drilled within that period of time. “The research will last 4+3 years, which means the concessionaire will need 7 years to see whether there’s oil and gas on our coast.”
Savković told that during the period 4-10 December, 23% of the surface covering the blocks 4,5,9 and 10 has already been surveyed which means so far 70% of the total envisaged area has been researched based on the concession agreement signed with the companies “Eni-Novatek”.
