The Montenegrin government said it has moved closer to launching a tender for offshore oil and gas exploration by adopting an amendment that precisely defines the blocks to be offered. The overall area of offshore blocks to be offered covers Montenegro's entire subsea area, the government said in a statement last week.
Investors will be able to apply for one or more blocks. The government may also grant a single concession to multiple companies through a joint operating agreement enabling joint exploration and production.
To safeguard tourism and protected habitats, the nearest boundary of exploration blocks has been moved to 3 km from the coast, up from 2.5 km, and adjusted to exclude areas in the Council of Europe’s Emerald network of conservation sites.
In January, Montenegro's mining, oil and gas ministry said it planned to hire a consultant to help it organise the tender for offshore oil and gas exploration concession.
The tender will allow concessionaires to conduct geological and geophysical surveys only, aiming to assess Montenegro’s offshore hydrocarbon potential without drilling or production rights.
The tender will target blocks not included in earlier concessions awarded to Italy’s Eni, Russia’s Novatek, and Greece’s Energean. Montenegro’s first offshore tender in 2013 covered 13 blocks totaling 3,100 sq km and led to two concession contracts, which were later canceled.
Photo: Montenegro govt
(SeeNews, October 27, 2025)
