MOG, Energean Submit Bids for Montenegro Licenses

Junior explorer Mediterranean Oil & Gas (MOG) announced Friday that it and Energean Oil & Gas have jointly submitted a bid for exploration and production licenses offshore Montenegro.

The licenses cover offshore blocks 4118/05, 4218/30 and 4118/10.

MOG said that if the bid is successful Energean will be the operator with a 60-percent working interest, while MOG would hold the remaining 40-percent stake.

Energean currently holds four exploration and two development licenses and is the only operator of hydrocarbon fields in Greece. It has produced over 115 million barrels of oil and 30 cubic feet of natural gas from the Prinos and South Kavala offshore fields.

MOG has a number of operated and non-operated assets onshore and offshore Italy, which are in close proximity to Montenegro and share many geological characteristics.  MOG said the submission is part of its strategy to acquire further assets in its core region.


Have a news tip? Share it with Rigzone!


Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Related Companies

Our Privacy Pledge

More from this Author
Rigzone Staff
e-mail us at
 -  Aker Solutions to Buy Brazilian C.S.E (Oct 21)
 -  Sea Trucks Group Secures Work Offshore... (Oct 21)
 -  Shell Divests Non-Core Oil, Gas Proper... (Oct 21)
 -  Petrofac Appoints New CFO (Oct 21)
 -  Wheatstone LNG Development Start-Up in... (Oct 20)

Most Popular Articles

From the Career Center
Jobs that may interest you
Project Manager, Oil and Gas
Expertise: Petroleum Engineering|Project Management
Location: West Chicago, IL
Business Development Manager
Expertise: Business Development|Construction Manager
Location: Portland, OR
Business Development Manager
Expertise: Business Development|Construction Manager
Location: Denver, CO
search for more jobs

Brent Crude Oil : $51.78/BBL 0.77%
Light Crude Oil : $50.85/BBL 0.83%
Natural Gas : $2.99/MMBtu 4.77%
Updated in last 24 hours