Repsol n mention of frr in georgia4 Jun 2018 13:31
Spanish Repsol will study the potential of hydrocarbons in the basin of the Georgian river Kura
05/29/2018 23:40
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The State Agency for Oil and Gas of Georgia (SAOG) on Tuesday signed a memorandum of cooperation with the Spanish Repsol, reports SAOG.
Repsol specialists will study and evaluate the potential of hydrocarbons in the basin of the largest river Mtkvari (Kura) in Georgia.
The report notes that the report, which will be prepared by the Spanish company, will provide an opportunity to determine the priority directions of oil and gas exploration in the Mtkvari basin.
In Georgia, for all the years of oil production, which began in the 1930s, more than 28 million tons were produced. At the same time, the largest volumes of oil production were recorded in 1980-1983: more than 3 million tons per year.
In 2017, Georgia produced only 32 thousand tons of oil (17.1% less than a year earlier). This is the lowest figure for all the years of oil production in the country.
Currently, 12 oil companies operate in Georgia, which own 25-year licenses for the development of 20 licensed blocks. Of these, five companies are engaged in oil production, including Indian Jindal Petroleum, British Canargo Georgia, American Frontera Eastern Georgia, as well as Georgian Georgia Oil and Gas and VP Georgia. The remaining seven companies are still searching and exploring on their licensed blocks.
The total initial oil resources in the territory of Georgia are projected at 850 million tons, of which 450 million tons fall to land, 400 million tons to the Black Sea shelf.
http://www.apsny.ge/2018/other/1527662426.php
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