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Russia, S. Africa may sign 'promising' contract on offshore seismic exploration

September 01, 19:28 UTC+3 MOSCOW
Rosgeo hopes to finish negotiations and sign a contract with South African Petro on offshore seismic exploration by the end of 2016
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MOSCOW, September 1. /TASS/. Rosgeo hopes to complete negotiations and sign a contract with South African Petro on offshore seismic exploration by year-end, Chief Executive Officer of the Russian geological holding Roman Panov said on Thursday.

"We are at the final stage of negotiations," Panov said.

"A promising offshore seismic exploration work is there. We expect negotiations will end with execution of a contract," he added. Panov did not disclose the deal amount, referring to arrangements with partners.

Rosgeo is a Russian multidiscipline geological holding company providing the full range of exploration-related services, from regional studies to stratigraphic drilling and subsurface conditions monitoring. The company has unique competencies, particularly in the field of marine geology and offshore operations.

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