Timano-Pechora gas company to invest over 1.1 billion rubles in geological exploration in Komi

Timano-Pechora gas company plans to invest more than 1.1 billion rubles in the project in Inta monotown (Komi republic) in 2016. The funds will be directed to the exploration, the Ministry of Industry, Transport and Energy of Komi reported.

"Timano-Pechora gas company implements an investment project on exploration, development and production of hydrocarbons at the license areas of the Inta district. Currently the first stage of the project is running, which is scheduled to be completed at the end of 2018: prospecting and exploration, well drilling and completion of the existing stock," - the Ministry said.