YEREVAN. – Integral Petroleum Company will be given permission to search for oil and natural gas in Armenia. This matter is included in the agenda of Thursday’s Cabinet session.
Integral Company owns 95 percent of the shares of Integral Petroleum.
To note, Team Energy (Canada), Vangold Resources Limited (Canada), and Blackstairs Energy (Ireland) companies likewise had searched for oil and natural gas in Armenia.
The activities were conducted in Armavir, Syunik, Vayots Dzor, and Gegharkunik Regions. Due to the global economic downturn, however, these activities practically stopped after 2008.