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Energy

Russia's Timan to get blocked exploration license

MOSCOW, March 13 (Reuters) - Russian explorer Timan Oil & Gas Plc TMAN.L said on Thursday a Moscow court had dismissed a government agency's appeal to deny it a license.

“We are very pleased with this new ruling and fully expect to be issued with the license in the near future,” Timan CEO Alexander Kapalin said in a statement.

Rosnedra, the agency responsible for granting and revoking subsoil exploration licences in Russia, had appealed in February to not issue an exploration license for the London-listed firm.

The license is for the Zapadno-Vodnenskoye area in the resource-rich Timan-Pechora region in the north of the country.

Timan also has fields in the southern Caucasus region of Dagestan.

Rosnedra is a division of the Natural Resources Ministry. (Reporting by Amie Ferris-Rotman)

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