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!
Email news@rigzone.com

WHAT DO YOU THINK?

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
Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE

More from this Author
Rigzone Staff
e-mail us at news@rigzone.com
 -  ExxonMobil Starts Fuels Production at ... (Sep 21)
 -  How to Become a Safety Engineer (Sep 18)
 -  How to Become a Geologist (Sep 15)
 -  Oil, Gas Industry Leadership Group to ... (Sep 14)
 -  CB&I Wins China PDH Unit Contract (Sep 11)


Most Popular Articles

From the Career Center
Jobs that may interest you
Procurement / Subcontracts Administrator
Expertise: Contracts Administration
Location: Cincinnati, OH
 
United States Houston: Account Rep, Bus Dev
Expertise: Business Development|Marketing|Sales
Location: Houston, TX
 
General Manager US
Expertise: Business Development|Executive|Technical Manager
Location: Houston, TX
 
search for more jobs

Brent Crude Oil : $56.86/BBL 0.76%
Light Crude Oil : $50.66/BBL 0.21%
Natural Gas : $2.959/MMBtu 0.30%
Updated in last 24 hours