RosGeo signs geological exploration contract with Iran for nearly 2 bln rubles, work to start this year

MOSCOW. April 5 (Interfax) - RosGeo state geological exploration holding in March signed a contract with Iran for nearly 2 billion rubles, a technical agreement should be signed before May, and work on the contract will begin this year, former RosGeo CEO Sergei Gorkov said at an extended meeting of RosGeo's executive board.

"We are currently operating in Africa actively, with more than 10 contracts. It is important that we have returned to the Commonwealth of Independent States, where we have a large amount of fieldwork in Uzbekistan totaling 1.5 billion rubles. We are operating in Mongolia, where we have completed three contracts, and we are hoping for an additional contract. We signed a large contract with Iran in the past month totaling nearly 2 billion rubles, which starts this year. We expect a technical agreement to be signed by May 1 this year," Gorkov said.

Gorkov's contract as RosGeo CEO expired on March 31. Sergei Radkov, who oversees solid minerals at RosGeo, will be appointed interim CEO of the company.