The Montenegrin Ministry of Mining, Oil, and Gas will relaunch the public tender for the reconstruction of oil storage tanks in Bar, designated for the country’s strategic oil reserves, after no bids were received in the initial process.
The original tender, announced at the end of last year, had a submission deadline of February 12. Despite interest from potential bidders, no offers were submitted, as some companies required additional time to prepare documentation for the complex project. The planned reconstruction is expected to take nine months.
To ensure a high-quality and competitive selection process, the Ministry will promptly issue a new call with further details for interested companies.
Strategic importance and funding
In December, Parliament passed the Oil Supply Security Act, a key legislative measure for closing Chapter 15 in EU accession talks. The law mandates the establishment of strategic oil reserves to safeguard against supply disruptions or emergencies.
The government has allocated €1.5 million from a €7.5 million EU grant for the modernization of the Bar storage facility, while the remaining funds will be used for purchasing oil reserves. Between now and 2028, €44.5 million will be required to fully establish these reserves. A portion of the funds will be raised through a fuel surcharge of €0.03 per liter, introduced on February 10.
Supervision and industry contributions
A separate tender to select a supervisory consultant for the project was launched last year, with bid submissions closing in late January. The evaluation process is still ongoing, and results will be announced upon completion. The consultant’s role will be crucial in ensuring quality compliance during the storage facility’s modernization.
Montenegro’s Hydrocarbon Administration and fuel importers handling 15,000+ tons of gasoline or diesel annually are required to establish mandatory oil reserves. Oil companies Jugopetrol, INA Montenegro and Petrol Montenegro will also contribute alongside the government.
This initiative is part of Montenegro’s broader energy security strategy, ensuring compliance with EU regulations and reinforcing national preparedness for potential supply disruptions.
