Armenia To Get Investments For Oil And Gas Exploration

ARMENIA TO GET INVESTMENTS FOR OIL AND GAS EXPLORATION

SteelGuru
Nov 4 2008
India

Interfax cited Mr Armen Movsisian Armenian Energy and Natural Resources
Minister as saying that, investment in exploration for oil and gas
in Armenia will total USD 5 million over the next two to three years.

He said that "An agreement on investment has been reached with
investors, who are already working and want to work in this area in
the country. These are specialized companies. They don’t throw their
money away and see real potential in Armenia."

He added that Companies have invested some USD 5 million in
the exploration of oil and gas in the country over the last few
years. International experience shows that only one of every six
wells drilled turns out to be productive. One meter of drilling costs
roughly USD 1,000.

From: Emil Lazarian | Ararat NewsPress

Emil Lazarian

“I should like to see any power of the world destroy this race, this small tribe of unimportant people, whose wars have all been fought and lost, whose structures have crumbled, literature is unread, music is unheard, and prayers are no more answered. Go ahead, destroy Armenia . See if you can do it. Send them into the desert without bread or water. Burn their homes and churches. Then see if they will not laugh, sing and pray again. For when two of them meet anywhere in the world, see if they will not create a New Armenia.” - WS