Energean Oil & Gas is offering 40% from its 100% stake in 4219-26 and 4218-30 exploration concession (338 sq km), in the southern Adriatic Sea. Energean acquired 3D seismic over the entire concession in February 2019, and has an outstanding one well commitment. The acreage was offered in the first licensing round and Energean's concession contract was formally signed on 15 March 2017. The seven year exploration period includes commitments to acquire 3D seismic data, drill one firm well (with a further contingent well), and thereby invest at least US$ 19 million (US$ 5 million in the initial phase). Netherland Sewell & Associates has estimated 1.8 Tcfg and 144 MMb oil/condensate P50 unrisked prospective recoverable resources on the Energean acreage. Energean Montenegro Ltd is sole concessionaire.
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