Montenegro's hydrocarbons agency has announced that Energean, the Greek oil and gas group, has completed a 3D seismic survey of two offshore natural gas blocks in the country's waters.
The 3D seismic survey began on 10 February and was completed in nine days. It was carried out by the Ramform Titan vessel of Norway's Petroleum Geo-Services (PGS), a contractor of Energean.
Ramfom Titan ship
Ramfom Titan ship. Source: PGS
Currently, Energean has declared 100% working interest as is the sole operator of the Montenegrin offshore blocks 4218-30 and 4219-26, which cover a total area of 338 km² of shallow waters.
The blocks were officially awarded to Energean when the company and the Montenegrin government originally signed the concession agreement in March 2017.
The concession deal itself was signed by the Montenegrin government back in June 2016 and later approved by the parliament in December.
The 3D seismic survey forms part of a larger mandatory work programme covering the two blocks, which also involves geological and geophysical studies. Energean estimated in 2017 that the total cost of the initial exploration phase would be €4.4 million.
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