On March 5, 2012, state-owned JSC “Rusgeology” and Irkutsk Oil Company signed the Agreement on Cooperation. Under the Agreement, parties aim to create and adopt new technologies in exploration and production in the East Siberia. The East Siberian fields are known for having a complex geology and therefore require more efforts and new advanced techniques for their development. Rusgeology and Irkutsk Oil Company plan to jointly develop and apply such techniques for assessment of the existing fields as well as new prospective blocks in the region.
State-run JSC "Rusgeology" was established on July 15, 2011 in order to carry out integral subsoil geological studies and ensure recovery of the Russian mineral resources using the state-of-the-art geological, geophysical and geochemical techniques. Rusgeology unites 38 state-run geological companies which are mainly engaged in exploring resource potential of the promising territories of Russia including continental shelf, offshore areas of internal seas, ocean bed and Arctic and Antarctic regions, estimating resource potential of undistributed subsoil blocks and performing state monitoring of the subsoil. RusGeologia is on the list of the strategic companies of Russia.
Additional information could be found at www.rusgeology.ru
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