‘ITERA’ COMPANY OFFICIALLY ANNOUNCES ABOUT SALE OF ITS SHARE IN FOREIGN PROJECTS

ArmInfo
2009-03-26 14:14:00

ArmInfo. "Itera" Oil and Gas Company has officially announced about
sale of its share in the foreign projects of Canada, Cameroon and
Armenia, "Kommersant" reports on March 26. The matter concerns 40% of
Maple LNG, the terminal on storage of a liquefied gas on the coast of
America, 13% in BowLeven, having licenses for geologic exploration of
three units on the African shelf, as well as 4,5% of "ArmRusgazprom".

According to the company, it sells the "non-priority" and non-core
assets in order to focus on the development of a resource base and
construction of energy objects in Russia.

From: Emil Lazarian | Ararat NewsPress