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Rosneft established an affiliate in Abkhazia2009-08-25 12:31
Rosneft, a Russian oil company, established RN-Shelf of Abkhazia, its affiliate in Sokhumi - Yuga.ru.gt-en-newsitem-inside
Since August 21st the share of Rosneft in authorized capital of RN-Shelf of Abkhazia has amounted 100 per cent. Previously Sergei Bogdanchikov, the president of Rosneft, said the company hoped to obtain from the Abkhazian government a license for oil extraction in the shelf. The head of the company added that the area to be studied, amounts appr. 2.5 square kilometers.
According to the agency, the resources of the shelf vary from 350 to 500 mln tons. The first stage of exploration seismology is planned for end 2011, Bogdanchikov said. Also, the construction of up to 10 petrol stations is planned in the territory of Abkhazia.
This May the Ministry of Economy of Abkhazia and Risneft signed a agreement on cooperation with 5-year long term.