In December 2017, the Armenian Government issued three exploration licenses to two companies. Armenian Oil and Gas Company received exploration licenses for Block 1 and Block 3. The licenses were awarded on 26 December 2017 and are valid for three years. Block 1 and Block 3 are located in Northern Armenia and cover a total of 8,775 sq km. Canadian Armenian Gas and Power Enterprises (AGAPE) received an exploration license for Block 5. The license was awarded on 1 December 2017 and is valid for five years. Block 5 is located in south-central Armenia and covers 2,774 sq km. It is understood that the new awards reflect the whole current license ownerships in Armenia.
Armenian Government issued three exploration licenses to two companies. Armenian O&G received exploration licenses for Block 1 and Block 3 and AGAPE (Armenian Gas and Power Enterprises) received an exploration license for Block 5.