Montenegro upstream summary Report

Country Report 27 February 2024

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Report summary

Montenegro has no history of commercial oil and gas production, but is working to establish an upstream industry. In 2013, the country launched its first licensing round. Offshore exploration is being led by Eni and NOVATEK.

Executive summary
Key facts
Location maps
Key companies
- Current interests
- Historical interests
Geology
- Introduction
- Adriatic - Dinaric basin
Exploration
- Licensing
- 2013 licensing round
  - Results
  - Historical licensing
- Drilling
  - Drilling activity
  - Onshore
  - Offshore
Reserves and resources
Production
- Overview
Infrastructure
- Introduction
  - Future projects
Policy and regulation
- Key legislation
  - Law on Exploration and Production of Hydrocarbons (2010)
  - Law on Hydrocarbon Tax (2014)
- Regulatory body
- State oil company
- State participation
- Licensing
  - Exploration Concession Contracts
  - Production Concession Contracts
Fiscal terms
- Overview
- Current fiscal terms
  - Bonuses, rentals and fees
  - Royalty
  - Corporate income tax
  - Decommissioning
  - Environmental pollution fees
  - Sample cash flow