{"id":366,"date":"2008-02-04T10:32:19","date_gmt":"2008-02-04T15:32:19","guid":{"rendered":"http:\/\/www.visit-ulcinj.com\/blog\/2008\/02\/04\/oil-reserves-offshore-of-ulcinj\/"},"modified":"2008-02-12T20:29:40","modified_gmt":"2008-02-13T01:29:40","slug":"oil-reserves-offshore-of-ulcinj","status":"publish","type":"post","link":"https:\/\/www.visit-ulcinj.com\/blog\/2008\/02\/04\/oil-reserves-offshore-of-ulcinj\/","title":{"rendered":"Oil reserves offshore of Ulcinj"},"content":{"rendered":"

\"business_oilplatform\"<\/a>With potential sub-Adriatic oil reserves of seven billion barrels,Montenegro could one day become the home of scores of black gold billionaires. Eager to capitalize on this potential fossil fuel bonanza, the Montenegrin Ministry of Economic Development is preparing a working bill that will provide a legal foundation upon which a petroleum industry can be built.<\/p>\n

When realized, such a bill will likely attract the major investment needed to explore and then exploit the eserves which are believed to sit just offshore of Ulcinj<\/a><\/font><\/strong>.<\/font> In its efforts to come up with a bill that will simultaneously ttract investment and assure that Montenegrins get their rightful share of the money, the Ministry of conomic Development has turned to Norway. The Norwegian government in turn contracted a Norwegian law irm to prepare draft legislation. Montenegro was not only impressed by Norway’s success in exploiting its offshore il reserves but also its ability to do so in a sustainable fashion. It is expected that it will be at least ten ears after the legal framework is in place before Montenegro will be able to begin to produce oil.<\/p>\n","protected":false},"excerpt":{"rendered":"

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