RIA Novosti quoted the Montenegran Economy Ministry said Russia largest independent gas producer Novatek is among 15 companies interested in developing the Montenegro shelf and producing hydrocarbons.

The ministry said "Basing on surveys done in the southern part of the Adriatic Sea, a lot of promising sites with commercially attractive oil and gas fields were discovered."

In 2010, Montenegro government approved granting concessions for geological surveys and oil production. In December, the ministry asked companies interested in concessions to file their bids.

(Sourced from RIA Novosti)