RosGeo has optimized the asset structure in the central part of Russia

RosGeo has completed the accession of Central PGO (Moscow, a subsidiary of RosGeo), the other companies (Volgageologiya (Nizhny Novgorod) AOME (Alexandrov) to the holding.

The merger will allow to optimize the business processes within the companies, manage the technical and personnel resources more efficiently in execution of the contracts. This step is aimed at using the synergies for more efficient development of the holding business. Similar processes are taking place in other regions of RosGeo presence.

The results of consolidation of the assets in the central part of Russia were discussed at the meeting held on the premises of Central PGO with participation of the heads of RosGeo holding structure and directors of the territorial company subsidiaries.

In addition, the participants outlined the outcomes of 2018 and plans for 2019. The growth of the company revenues to 64.1 mln. rubles was emphasized separately. A great deal of the work has been done to optimize the business processes, costs, reduce the debs, sale the non-profile assets, increase the efficiency of tendering in trading procedures.

The company currently performs a wide range of hydrogeological and geological works. The portfolio of orders is balanced and includes both commercial and government contracts aimed at reproduction of the mineral and raw material base in the country.

Reference:

RosGeo is a Russian multi-disciplinary geological holding that carries out a full range of services related to geological exploration: from regional surveys to parametric drilling and monitoring of subsoil conditions. The holding company boasts a unique expertise, particularly in marine geology and shelf operations.

RosGeo was established following the Decree of the President of the Russian Federation of July 15, 2011, No. 957 on the basis of Tsentrgeologiya, an oldest Russian geological enterprise. Rosgeo is a fully state-owned company.

The enterprises within the Holding company operate in all eight Federal Districts of Russia. A total of more than 1000 fields and deposits have been discovered by the holding’s companies, including major hydrocarbon and solid mineral deposits and fields.

Central PGO is an oldest geological company in the Central Region of Russia, founded on the basis of the merger of two largest enterprises of Mingeo of the RSFSR: geological - Moscow integrated geological exploration expedition and hydrogeological - Hydroregime expedition. For over 70 years the company has provided the Central Russia, including Moscow and Moscow region, with information on all necessary resources: water, construction raw materials, phosphorites and other minerals.

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