Russian oil companies reach Montenegro

Novatek may start its first international project on gas extraction on shelf: the company plans to participate in tender for survey and development of offshore sites in Montenegro together with the Italian company Eni. Gazpromneft also displayed interest in these sites. Subsoil reserves are unlikely to be very high here, but Montenegro is situated near the main increasing sale markets, the Kommersant writes.

Novatek considers possibility to cooperate with Eni during development of Mediterranean shelf of Montenegro, Lebanon and Cyprus, the company’s head Leonid Mikhelson reported yesterday. He recalled that the corresponding memorandum with Eni was signed at the end of November. At the same time, Mikhelson noted that the parties “made a rather good progress in issue on joint participation in projects on Montenegrin shelf”. As for projects in Lebanon, according to him, there is only preliminary agreement. And when all these issues are resolved, Novatek and Eni will consider cooperation in Cyprus too.