Alexander Kozlov recalled that the holding provides up to 70% of geological prospecting for minerals in Russia, but its technical and technological support leaves much to be desired.

"The Ministry of Natural Resources believes necessary to increase the funding of geological exploration, as it is important for reproduction of the reserves, issues associated with import substitution. This includes increasing the funding of the company that, within the framework of the state powers, can do this", said Kozlov, adding that the matter concerns RosGeo.

Kozlov also confirmed that it is about additional funding. "The Prime Minister supported us on this issue, which is important and necessary. We will do this”, Kozlov stressed. “It is important to take this issue into account in development of  the budget for 2022-2024. Now the most important document of the country is being elaborated - this is the budget. If we envisage there the expenditure obligations for these types of work, then, accordingly, these industries will survive", the minister said.

“When resources become reserves, it will be a completely different economy for the country. Those who buy them at the auction will pay completely different money", he explained.


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. 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. RosGeo is a fully state-owned company.