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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
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