CANADIAN COMPANY TO START PROSPECTING FOR OIL AND GAS IN ARMENIA IN SEPTEMBER
Noyan Tapan
Jun 22 2006
YEREVAN, JUNE 22, NOYAN TAPAN. Starting mid September, Transeuroenergy
Corporation (Canada) will start drilling near the Armenian settlements
of Armavir, Karmir and Shoghaghbyur with the aim of prospecting for
oil and gas. During an interview to Radio Liberty, director of the
company’s Armenian office Mike Smith expressed confidence that there
are oil and gas reserves in Armenia.
To substantiate his statement, he noted that all Armenia’s neighbors
have such reserves: Armenia just wasn’t so lucky in the past and the
prospecting work did not produce positive results.
Transeuroenergy Corporation recently signed an agreement with one
of the world’s leading drilling companies, which will bring moder
equipment to Armenia to explore the earth’s entrails up to the depth
of 2,500 meters. According to M. Smith, the first results of drilling
will be known in February 2007.