31 Jul 2020 11:41

Russian resources minister expects exploration to intensify in 2021, says important to support exploration cos

MOSCOW. July 31 (Interfax) - Active work on Russia's geological exploration market could begin as early as in 2021, so it is important now to support exploration companies that have been left without contracts, Natural Resources Minister Dmitry Kobylkin told reporters.

Asked about the postponement and downward trend in the amount of exploration work, he said the fact that companies have scaled down exploration should not be a big concern.

"What's important is that we don't lose companies that do geological exploration. A national plan has been made for this and there is a clear understanding that geological exploration companies, including Rosgeo, should be included [in the plan] and will be supported by the state while there are no orders. Because already in 2021, clearly, seismic surveying and marine seismic surveying will be needed, and in 2022 companies will actively get down to this work. And meanwhile, of course, we cannot lose our companies and our unique competencies," Kobylkin said.