The Canadian company Blackstairs Energy resumed oil and gas exploration in Armenia.
The Deputy Minister of Energy and Natural Resources of Armenia, Hayk Harutyunyan, said that the investor which has already presented its funding program to the Armenian government is a new owner of Blackstairs Energy, the company engaged in exploration of hydrocarbons in the country since 2007.
According to Harutyunyan, the Ministry of Energy and the Canadian company are discussing the schedule and scope of future works.
It is known that foreign experts suggest that oil and gas reserves can be found in the southern Armenian regions due to its proximity to Iran and Azerbaijan. However, 10 years of explorations have yielded no results, Sputnik Georgia reports.
