Exploratory drilling near Ulcinj promises a large oil field - Several more potential deposits in Montenegro

Source: Mina Monday, 13.09.2021. 09:22
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Exploratory submarine drilling near Ulcinj promises to uncover a large oil field, and there are several other potential fields in our territory, said the State Secretary for Energy and Mining in the Ministry of Capital Investments, Marko Perunovic.

He said that the current depth of the drilling well in Ulcinj is 4.7 thousand meters, as reported by the newspaper Pobjeda.

- It is with great optimism that we expect an economically viable deposit to be found in the formation of fractured carbonates at a depth of 6.5 thousand meters. There are several other interesting concession areas, from the aspect of oil and gas exploration, and when, depending on the results of the ENI / Novatek drilling well, tenders are announced, the public will be informed in time - said Perunovic.

As he stated, after confirming the reserves in the existing reservoir, the next phase would be the development of the reservoir, which implies additional wells and the development of a production model.


- In the case of a positive scenario, the first production is expected in three years time. The construction of refineries in Montenegro is not planned, in favor of preserving the environment, and the plan is to sell the produced oil as crude - said Perunovic.

According to him, energy field is one from which Montenegro, i.e. its citizens and economy, can live of.

- I am of the opinion that, if the funds are properly invested in good energy projects, the Montenegrin economy can experience a real boom in a relatively short period of time - Perunovic believes.

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