Licenses to carry out works on the detection of oil and gas in Armenia will be issued on a competitive basis. The decision was taken at today's Cabinet meeting, reports Armenia Today.
Before this decision the license for the work on the detection of minerals was issued on the basis of an auction.
As Minister of Energy and Natural Resources Armen Movsisyan said , oil and gas are for the country's resources of strategic importance, therefore, the allocation of appropriate areas should rather be based on tenders, taking into account the fact that during the tendering takes into consideration also the programs and the economic potential of companies.
