‘Itera’ Company Officially Announces About Sale Of Its Share In Fore

‘ITERA’ COMPANY OFFICIALLY ANNOUNCES ABOUT SALE OF ITS SHARE IN FOREIGN PROJECTS

ArmInfo
2009-03-26 14:14:00

ArmInfo. "Itera" Oil and Gas Company has officially announced about
sale of its share in the foreign projects of Canada, Cameroon and
Armenia, "Kommersant" reports on March 26. The matter concerns 40% of
Maple LNG, the terminal on storage of a liquefied gas on the coast of
America, 13% in BowLeven, having licenses for geologic exploration of
three units on the African shelf, as well as 4,5% of "ArmRusgazprom".

According to the company, it sells the "non-priority" and non-core
assets in order to focus on the development of a resource base and
construction of energy objects in Russia.

From: Emil Lazarian | Ararat NewsPress

Disclaimer: This article was contributed and translated into English by Emil Lazarian. While we strive for quality, the views and accuracy of the content remain the responsibility of the contributor. Please verify all facts independently before reposting or citing.

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Emil Lazarian

“I should like to see any power of the world destroy this race, this small tribe of unimportant people, whose wars have all been fought and lost, whose structures have crumbled, literature is unread, music is unheard, and prayers are no more answered. Go ahead, destroy Armenia . See if you can do it. Send them into the desert without bread or water. Burn their homes and churches. Then see if they will not laugh, sing and pray again. For when two of them meet anywhere in the world, see if they will not create a New Armenia.” - WS