MOSCOW, October 12 Rosgeo offers Saudi Arabia work on exploration of solid minerals; it does not plan to work on oil and gas due to the high degree of exploration of the subsoil and competition, the head of the company Sergei Gorkov told reporters on the sidelines of the Russian Energy Week.
“We offer Saudi Arabia (work — ed.) on solid minerals, because they have little experience. We have an understanding of at least ten blocks that are quite interesting in Saudi Arabia for the development of polymetals. We see them, we understand them , we propose active work on their exploration and subsequent attraction of investors to development,” Gorkov said.
«It is difficult to work with them in oil and gas, although we tried several times. Firstly, there is not much geological exploration left. They have studied everything. Secondly, they have high competition there. There is no such niche in oil and gas, but in solids “there is,” he explained why the company does not plan to offer hydrocarbon work to Saudi Arabia.
At the same time, according to Gorkov, the kingdom has little exploration of solid minerals, but there is potential for polymetals: copper, zinc, gold.
The head of Rosgeologia also shared his opinion that it would be interesting for Russian metallurgical companies to enter the Saudi Arabian market.
The company is now negotiating with the kingdom about how and with which partners the blocks it is interested in will be developed, Gorkov added.
Russian Energy Week takes place in Moscow from October 11 to 13. acts as an information partner of the forum.