In the recent All-Russian Geology Congress, head of Russia’s Agency of Sub-Soil Resources (Rosnedra), Aleksandr Ledovskikh, said that limited Arctic exploration has taken place although the areas opened to the industry has been significantly extended since 2005, Rosbaltnord.ru reports. He maintained that the exploration drilling is conducted either with major delay or is not conducted at all. The Ministry of Natural Resources is now preparing for the establishment a new state-controlled company, which is to bring progress in Arctic drilling. Ledovskikh argues that the new company must be a state corporation under Rosnedra. -We have to establish a joint state corporation able to implement most of the state orders on geological studies of sub-soil minerals, the Rosnedra leader said, adding that both the Arctic and offshore areas in the Far East must be included in the operations of the company.
