Three consortia bid for Montenegro oil exploration, drilling rights

PODGORICA Thu May 15, 2014 12:46pm EDT

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PODGORICA May 15 (Reuters) - Three international oil and gas consortia filed bids for oil exploration and drilling rights off the southern Adriatic coast of Montenegro, Economy Minister Vladimir Kavaric said on Thursday.

The consortia are: Marathon Oil Corporation and OMV , Eni and Novatek and Mediterranean Oil&Gas Plc and Enegrean Oil&Gas, Kavaric said. He added the ministry plans to pick the best bid in autumn and pass the choice to parliament for approval.

The tender which closed on Thursday offered the exploration of 13 blocks, covering an area of 3,000 square kilometres. The government said concessions at locations that prove promising will be awarded for a period of 30 years. (Reporting by Petar Komnenic, writing Maja Zuvela, editing by David Evans)

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