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Russia’s Caucasian republic of Dagestan to set up its own oil and gas company

February 04, 2014, 18:40 UTC+3 MOSCOW
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MOSCOW, February 04. /ITAR-TASS/. Russia’s North Caucasian Republic of Dagestan plans to set up its own oil and gas company, registration procedures will begin on March 1, the head of the republic, Ramzan Abdulatipov, told a news conference at Itar-Tass on Tuesday.

The would-be oil and gas company is not seen as an “alternative to anyone,” he noted.

Abdulatipov announced plans to establish an oil and gas company in his annual address to the republican parliament on February 15 and commissioned the government to work out a plan of prospecting works on the Caspian shelf.

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