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Signing Agreement between Copelouzos Group and Rosgeologiya to jointly develop a geothermal project in Nothern Greece

June 2, 2017- During the 2017 St. Petersburg International Economic Forum (“SPIEF”) Mr. Roman Panov, Managing Director – Chairman of the Board of JSC “Rosgeologiya” and Mr. Dimitris Copelouzos, Chairman and Managing Director of Copelouzos Group, signed an agreement to jointly develop a geothermal project in northern Greece. The two parties agreed to establish a joint company for the implementation of this project.

This development is the outcome of the agreement that was executed between the parties during the SPIEF-2015 for exploring the possibility of implementing jointly projects relevant to the development of geothermal resources and the construction of geothermal power plants in Greece.

As a next step, the joint company will apply to the Greek Ministry of Environment & Energy to obtain a license for the implementation of the project.

This agreement was executed in the presence of the Minister for Natural Resources, Mr. Sergei Donskoi and the Minister of Transport Mr. Maksim Sokolov, of the Russian Federation.

About Rosgeologiya

Rosgeologiya is a Russian multi geological holding company, which provides a full range of services related to exploration: from regional research to parametric drilling and monitoring of subsurface condition. The company has unique competencies, in the field of marine geology and offshore operations. Rosgeologiya was established by a Presidential Decree on 15 July 2011. The Russian State is owner of the 100% of the capital of Rosgeologiya. Rosgeologiya comprises of 63 enterprises, which are located throughout the Russian Federation. Rosgeologiya has opened more than 1000 fields, among which the largest deposits of hydrocarbons and solid minerals such as Astrakhanskoye (2.5 trillion cubic meters of gas) Tengis (3.1 billion tons) Kovyktinskoe (1.9 trillion cubic meters of gas) Dry Valley (about 2 tons of gold), and many others.

The company has vast experience in projects abroad: dozens of open fields in Asia, Europe, Africa and Latin America. Among Rosgeologiya customers are companies such as “Gazprom”, “Rosneft”, “Lukoil”, “Severstal” MMC “Norilsk Nickel”, “Itera”, “NLMK”, “Sibuglemet», BP, Chevron and many others.


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