The Topaz Driller drilling rig arrived onsite in Montenegro in mid-March. ENI and Novatek will drill the first oil exploration well 26 kilometers (16 miles) from the coast with a planned depth of 6,525 meters (21,407 ft). Drilling operations will last between four and a half to six months, depending on the results.
Montenegro signed a 30-year concession agreement with the ENI-Novatek consortium back in 2016 for the development of exploration blocks 4118-4, 4118-5, 4118-9 and 4118-10 with a total area of about 1,200 square kilometers located in Montenegrin territorial waters. ENI and Novatek each hold a 50% stake in the concession.
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