Montenegrin Minister of Economy Vladimir Kavaric said that the best international practice will apply for exploration of oil and gas fields on the Montenegrin part of the Adriatic Sea.

It will provide the most environmental protection.

He also said that the first oil well will be at least 20 km from the Montenegrin coast.

“During the competition among the oil companies we will focus how oil companies will manage to Montenegrin hydrocarbon resources, if they will be discovered”, Kavaric said.

The government negotiates about the most favorable conditions for the country.

On these weeks, it is expected that Montenegro will have draft agreements with oil companies for oil exploration.