OREANDA-NEWS Rosgeologia offers Saudi Arabia work on exploration of solid minerals, oil and gas does not plan to work due to the high degree of exploration of the subsoil and competition, the head of the company Sergey Gorkov told reporters on the sidelines of the Russian Energy Week.

"We offer Saudi Arabia (works - ed.) on solid minerals, because they have little experience. We have an understanding of at least ten blocks that are quite interesting in Saudi Arabia for the development of polymetals. We see them, understand them, and offer active work on their exploration and subsequent attraction of investors to development," Gorkov said.

"It is difficult to work with them in oil and gas, although we have tried several times. Firstly, there is not much geological exploration left. They've studied everything. Secondly, they have high competition there. There is no such niche in oil and gas, but there are solid ones," he explained why the company does not plan to offer work to Saudi Arabia on hydrocarbons.

At the same time, according to Gorkov, the kingdom has little knowledge of the subsoil in solid minerals, while there is potential for polymetals: copper, zinc, gold.