In 2022, the company plans to receive the first gas.
The government hopes this will help diversify Montenegro's economy so that it no longer depends on the tourism industry.
The company met its production target for oil and gas production in February.
They plan to invest $20 billion in gas production over the next 10 years.
Average daily hydrocarbon production in January amounted to 3.99 thousand tons of oil and condensate and 2.94 million m3 of gas.
Currently, the well is producing at a stabilised flow rate of approximately 55 thousand m3/day of gas and 13 t/day of condensate.
Brent price surpassed $61 per barrel.
About 25% of the oil in the United States is produced on the federal lands.
A new exploration well confirmed the presence of gas deposits in the Pearl area at a depth of 6150 m.
The largest drop is predicted for projects in the Permian Basin.
The company will be ready to start working on it immediately after the completion of official procedures.
The EU High Representative for Foreign Policy will prepare a report on relations with Turkey by March 2021.