Oil and Gas Reserve Prospecting Became More Active in Armenia

Oil and Gas Reserve Prospecting Became More Active in Armenia


The interest towards the oil and gas reserves in Armenia is getting more and more. Currently, Canadian “AGAPE” company’s project is undergoing expert assessment to get a permit for oil and gas prospecting in the fifth conditional area in Vayots Dzor Region.

The project says that investigations will be carried out in Vayots Dzor Region with the exception of Hermon Community. At least two wells will be drilled at a depth of 2000 meters. It should be mentioned that the works will be carried out as far as possible from the rivers and springs. A total of US $ 4,000,000 will be spent on the implementation of the works, out of which US $ 2,400,000 will be spent for drilling works. The commencement of the works is planned to be launched in the fourth quarter of 2017 and to be accomplished in the third quarter of 2022.
Besides “AGAPE” company, other companies are interested in the oil and gas prospecting in Armenia, such as “Integral Petroleum” and “ArmOil” LLCs.

In 2015 “Blackstairs Energy Armenia” LLC was issued a positive opinion from RA Nature Protection Ministry for the prospecting of oil and gas in Sevan basin.

17:34 October 13, 2017


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