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Energy: Montenegro, first oil exploratory drilling starting

Project of a consortium between ENI, Novatek

25 March, 19:45
(ANSA) - BELGRADE, MAR 25 - A consortium that comprises the Italian ENI and the Russian company Novatek is starting the first oil exploratory drilling operations in the waters offshore Montenegro, the Montenegrin government informed today. The operation will take place in the sea between Bar and Ulcinj, approximately 14 nautical miles from the coast, until a depth of 6,525 meters. It will last 4-6 months, the government added. The goal of the exploration is to verify the potential of the deposits and of the production, which could start between four and six years after the exploratory drilling. The Montenegrin Ministry of Capital Investments and the Directorate for Hydrocarbons said they hope the project will contribute to the "economic and environmental revival" of the country, which relies heavily on tourism currently. (ANSA).

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