Kotor, (Montena – business) – It is the possible that Jugopetrol will accept a reduction in it’s percentage in the joint venture related to research of the Montenegrin offshore area. The Jugopetrol Company and it’s partners Ramko and Star Petroleum signed this agreement. As director of the sector for research Veselin Kovacevic announced, the negotiations about percentage in investment must be finished by 31 March 2002. Kovacevic said that these two companies asked for a higher percentage in the joint venture, because, as they explained, the companies will wait a long time until the discovered gas brings them profit. “Montenegro has no necessary infrastructure which reduces economical results, or makes slower turning investments into profits of selling the gas” claims Kovacevic. He said that Jugopetrol would probably accept the conditions of these 2 companies, because, as he concluded, the percentage of Jugopetrol is 49%, which is high. “In most European countries the companies, which are in similar position as ours, usually have to 30% of the capital. Regarding that the negotiations are held by assistance of experts from the World Bank and the Government, we will respect all international standards” said Kovacevic. According to him, the goal of negotiations is to find an acceptable solution for all 3 sides. In this joint venture, English companies have together 51% of capital. As the contract says, Ramco will do digging from Sveti Stefan to the river of Bojana, and Star Petroleum from Prevlaka to Sveti Stefan. km/bd