LONDON--(BUSINESS WIRE)-- Energean Oil & Gas and MOG have jointly submitted a bid for the exploration and production of hydrocarbons in offshore areas 4118/05, 4218/30 and 4118/10 in Montenegro.
Energean Oil & Gas will act as the Operator with a 60% share, while Mediterranean Oil & Gas will hold a 40% share.
Energean Oil & Gas SA holds 4 exploration and 2 development licences and is the only Operator of hydrocarbon fields in Greece. The company has produced over 115 million barrels of oil and 850 million m3 of natural gas from the Prinos and South Kavala offshore fields. Furthermore, Energean’ s affiliate Energean Oil & Gas Egypt Ltd is the Operator of 2 exploration blocks in the Gulf of Suez and Upper Egypt. Energean Oil & Gas has just signed two new contracts with the Greek State in order to explore and exploit hydrocarbon potential in the Ioannina onshore block and Katakolon offshore block in Western Greece.
Mediterranean Oil & Gas is an integrated oil & gas exploration development and production company which, with its subsidiaries (Medoilgas Italia S.p.A., Medoilgas Civita Ltd, Melita Exploration Company Ltd and Malta Oil Pty Ltd with offices in London, Rome, Ortona and Malta), owns and operates onshore and offshore assets in the Central Mediterranean Region (Italy, Malta, France)