Montenegro Not Planning Construction of Refinery – If Exploitation Starts, Oil Only to be Exported

If it turns out that the Montenegrin undersea area contains oil, the state will not build a refinery, said the minister of capital investments, Mladen Bojanic. According to him, the plan is to export oil from Montenegro.

Whether Montenegro has oil, in what amounts and whether the commercial exploitation of the site is feasible will be known by the end of the year, Bojanic said for TV Vijesti.

– The announcements are very optimistic and the parameters that are followed during the drilling show that it is apparent that there are some oil reserves there. Another smaller borehole will be established in order to set the borders – he pointed out.

He said that the consortium in charge of that project did a serious and responsible job.

– If it is established that there’s oil, it takes a couple of years to prepare the site so that it can be exploited – he added.

Ministry of Capital Investments

Mladen Bojanić

oil

exploratory boring activities

refinery

construction of a refinery

export of oil