CANADIAN COMPANY TO SEARCH FOR GAS IN ARMENIA

arminfo
2007-08-13 10:22:00

A Canadian company will search for gas in Armenia. As REGNUM News
Agency reports, the Transeuro Energy Canadian Company schedules to
start researches and geological exploration of gas after August 22
in suburbs of Kogbavan village of Armavir region. It is envisaged to
spend about $10 mln for preliminary exploration and well-drilling. It
is scheduled that the first-stage works will last 3-4 months. ‘If
industrial reserves of gas are found, the company will much increase
the volume of investments’, the source notes and adds that according
to the geological data, there are gas reserves in Armavir region,
however, exploration works should be carried out to clarify the
volumes and economic substantiation of gas recovery.