Russia's Rosgeologia, Saudi ARGAS Sign Cooperation Agreement in Seismic Exploration
Russian state mining conglomerate Rosgeologia and the Arabian Geophysical and Surveying Company (ARGAS) have agreed to cooperate in the field of seismic exploration in the transit zones between the Eurasian and Arabian tectonic plates, a statement published by Rosgeologia on Wednesday read
The memorandum of understanding between the companies was signed at the ADIPEC-2019 international oil and gas exhibition and conference, currently underway in Abi Dhabi. In accordance with the document, Rosgeologia and ARGAS will develop cooperation in geological research, tender procedures and implement projects in the field of exploration.
"The signed memorandum reflects the desire of Rosgeologia to significantly expand the range of international projects in promising regions of the world. I am sure that combining the competencies of our two highly professional teams will make a significant contribution to achieving this strategic goal," Sergey Gorkov, the CEO of Rosgeology, said,
The parties will also jointly conduct marine and land-based geophysical surveys and exchange advanced technologies in the production of geophysical equipment, the statement explained.
"We are very pleased to announce the beginning of cooperation with Rosgeologia in the field of seismic exploration in the transit zones of the middle East and onshore seismic exploration in Russia. I am confident that by joint efforts we will be able to achieve better results in the implementation of joint projects in the strategically important regions of the two companies," Saad Saud Al Akil, the CEO of ARGAS, said.
Having been almost exclusively focused on exploring Russia's vast landmass, Rosgeologia has recently turned its attention outward. The mining giant made the most of the recent Russia-Africa Forum to sign various agreements with African nations, such as Nigeria, Sudan and South Sudan.