For more information about AmCham please visit www.amcham.hr or call +385-1-4836-777

The domestic petroleum company INA is interested in exploring for oil and gas supplies in the Montenegro aquatorium. It is still unknown whether they will apply to next month’s tender to be announced by the Montenegro government.

Montenegro is offering licenses for digging in the south of their coastline, near the city of Ulcinj, offering three sectors of 45,000 square meters in size. According to estimates of the Montenegro media, the area contains 7 billion barrels of oil and 425 billion cubic meters of natural gas.The Assistant of the Mining Minister, Vladan Dubljević, did not want to confirm these figures. He did say that they expect the interest to the tender to be great and that they will receive the first offer in month and a half, at the latest. “Presently, 10 companies have showed interest, but not INA; no one has contacted us from INA,” stated Dubljević for Poslovni Dnevnik.From a source close to our domestic petroleum company, we heard that INA is interested in participating, but that the final decision will be reached by the owner, the Hungarian MOL. As the source points out, “there is an interest, since these kinds of projects are always interesting, but at the moment Ina is undergoing restructuring. In a few days, the company can get organized and reach a decision on the Montenegro tender.” The only company to confirm participation is the Italian Eni. Eni and Ina founded the company Inagip 12 years ago. The Croatian – Italian company confirmed its plan to build six new natural gas platforms worth 300 million dollars until 2013. The North Adriatic gas fields daily manufacture 4,6 million cubic meters of natural gas.