Russian geological company Rosgeo will start exploration on Block 15 on the Sudanese shelf in 2019 to help the country to overcome electricity deficit, the company's CEO Roman Panov told Sputnik on Tuesday, UrduPoint reported.
"An agreement has been signed in Sudan on possible exploration and development of Block 15 with potential significant gas resources, and we plan to start seismic exploration there next year," Panov said on the sidelines of the Eastern Economic Forum.
Investments in the project at the first stage of geological exploration, which includes seismic exploration and drilling of two exploratory wells, are estimated at about $200 million, which will be provided by the Sudanese government and financial institutions led by the African Development Bank, he noted.
"We are one of the participants in such a consortium, in fact we are the operator of the project ... The subsequent implementation will solve the problems related to the electricity deficit in the Republic of Sudan," Panov said.
