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Oil drilling in the Montenegrin submarine begins on March 25th

Updated: Mar 18

The first oil well will be at a depth of 6,525 meters, and the second gas well will be less deep.



The Italian-Russian consortium Eni-Novatek will start the first exploratory drilling on March 25, which should show whether there is oil in the Montenegrin submarine, said the Minister for Capital Investments Mladen Bojanic and the State Secretary in that department Marko Perunovic.


"We are optimistic about this business and we expect significant benefits, to diversify the economy and not be dependent on tourism and services. The government is committed to the issue of environmental protection, and we believe that serious projects can be developed while preserving the environment and respecting all world environmental standards, "Bojanic said, Beta reports.


Perunovic said that the "Topaz Driller" drilling platform is expected to arrive in Montenegro in the late evening hours of March 13.



"The first oil well will be at a depth of 6,525 meters, and the second gas well will be less deep. Additional inspections will be needed, and now everything is done according to the procedures. We are optimistic and the preliminary data that indicate drilling are good ", said Perunovic.


Cash reserve for future generations


If oil and gas are found in the Montenegrin submarine, the state will take between 62 and 68 percent of net profit.


It is also planned to form an oil fund, following the example of Norway, which is the richest in the world and serves as a monetary reserve for future generations.


Offshore oil and gas exploration is a precarious business, which can bring huge profits, but it can also happen that oil is not found in sufficient quantities.


The search for oil and gas is accompanied by protests by environmental organizations that organized a four-day protest march earlier, during which they walked the entire coast, which is almost 300 kilometers long.


Their goal, they said, was to alert the public about the harmful consequences of these studies.


Source: www.balkans.aljazeera.net

Photo: EPA-EFE/VASSIL DONEV

Vantage Drilling - http://vantagedrilling.com/

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