Three international oil and gas consortia filed offers for oil exploration and drilling rights off the southern Adriatic coast of Montenegro, Economy Minister Vladimir Kavaric said on Thursday.The consortia are: U.S.-based Marathon Oil Corporation and Austrian energy firm OMV, Italy's Eni and Russian No. 2 gas firm Novatek, as well as UK-based Mediterranean Oil&Gas Plc and Greek Energean Oil&Gas, Kavaric said.He said the ministry plans to pick the best bid in autumn and pass the choice to parliament for approval. The contract could be wrapped up by the end of 2014, Kavaric added.The tender which closed on Thursday offered the exploration of 13 blocks, covering an area of 3,000 square kilometres. The government said concessions at locations that prove promising will be awarded for a period of 30 years.
Marathon Oil Corporation (Marathon Oil) is an international energy company engaged in exploration and production, oil sands mining and integrated gas with operations in the United States, Angola, Canada, Equatorial Guinea. Shares of MRO fell by 1.23% or $-0.45/share to $36.13. In the past year, the shares have traded as low as $31.57 and as high as $38.18. On average, 6313850 shares of MRO exchange hands on a given day and today's volume is recorded at 2722299.
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