GYUMRI, FEBRUARY 25, ARMENPRESS: Inspired by reports that crude oil reserveshave been discovered in the neighboring Turkish province of Kars Armenian National Academy of Sciences had released 160 million drams for primary prospecting of an area in the northern Shirak province, bordering Turkey.
This territory was first prospected in an effort to track down crude oil fields 45 years ago but then scientists found no substantial evidence of it.
The money does not envisage well-boring. It will be used mainly to examine the chemical composition of underground waters and some other necessary studies. The studies are supposed to be conducted in two stages, they will kick off in April and will be over in autumn. If evidence of oil reserves is found, Armenia will asked donor organizations for new funding.