Russia's Gazprom Nedra, a subsidiary of the gas giant Gazprom, plans to invest around 70 billion rubles ($913.12 million) into the geological prospecting in 2020, which is a 35 percent increase from the previous year, Director-General Vsevolod Cherepanov has said in an interview with Gazprom's corporate magazine
MOSCOW (Pakistan Point News / Sputnik - 24th April, 2020) Russia's Gazprom Nedra, a subsidiary of the gas giant Gazprom, plans to invest around 70 billion rubles ($913.12 million) into the geological prospecting in 2020, which is a 35 percent increase from the previous year, Director-General Vsevolod Cherepanov has said in an interview with Gazprom's corporate magazine.
"The geological assignment for 2020 envisions a significant increase in indicators. The volume of prospect drilling and exploration drilling will reach 46,000 meters [150,918 feet], which is over 35 percent more than in 2019 ... Taking the sectorial work into consideration, total investment in the exploration program will amount to around 70 billion rubles, while it reached 52 billion rubles in 2019," Cherepanov said.
