One of the largest companies in Europe is interested in oil production in Georgia
According to the terms of the tender, the company will conduct seismic survey work on the site, and then begin drilling.
The Austrian company OMV PETROM S. A has won a tender for oil production on the black sea shelf off the coast of Georgia, the Georgian oil and gas Agency said in a statement.
OMV PETROM S. A is part of the Austrian holding company OMV (Österreichische Mineralölverwaltung Aktiengesellschaft), which was founded in 1956.
The company won an international tender for a General license for the use of oil and gas resources in the Black sea on a shelf area of 5,300 square kilometers.
Initially, according to the terms of the tender, the company will conduct seismic surveys, and then begin drilling.
Minister of economy and sustainable development Natia Turnava commented on the results of the tender.
"This is another confirmation that the business environment in Georgia, including in the field of oil and gas production, is so transparent, attractive and understandable for global giants that the company, the second in Austria and the tenth in Europe in terms of oil production, wanted to start operations in Georgia," Turnava said at a briefing on Thursday.
According to her, the contact with the Austrian company will be formalized in the near future and oil search and production will be conducted for the first time off the coast of Georgia on the black sea shelf.
The company already has a successful experience in searching for oil fields. It has discovered an oil field off the coast of Romania, with an estimated resource value of $ 1.5 billion.
In 2019, more than 30,000 tons of oil and up to 10 million cubic meters of gas were produced in Georgia. On average, the country consumes about 1.2 million tons of oil products and about 2.5 billion cubic meters of gas per year. Hydrocarbons (oil and gas) are mainly imported from Azerbaijan, Russia, Romania and Bulgaria.
Sputnik-georgia.ru
Tags:
One of the largest companies in Europe is interested in oil production in Georgia
According to the terms of the tender, the company will conduct seismic survey work on the site, and then begin drilling.
The Austrian company OMV PETROM S. A has won a tender for oil production on the black sea shelf off the coast of Georgia, the Georgian oil and gas Agency said in a statement.
OMV PETROM S. A is part of the Austrian holding company OMV (Österreichische Mineralölverwaltung Aktiengesellschaft), which was founded in 1956.
The company won an international tender for a General license for the use of oil and gas resources in the Black sea on a shelf area of 5,300 square kilometers.
Initially, according to the terms of the tender, the company will conduct seismic surveys, and then begin drilling.
Minister of economy and sustainable development Natia Turnava commented on the results of the tender.
"This is another confirmation that the business environment in Georgia, including in the field of oil and gas production, is so transparent, attractive and understandable for global giants that the company, the second in Austria and the tenth in Europe in terms of oil production, wanted to start operations in Georgia," Turnava said at a briefing on Thursday.
According to her, the contact with the Austrian company will be formalized in the near future and oil search and production will be conducted for the first time off the coast of Georgia on the black sea shelf.
The company already has a successful experience in searching for oil fields. It has discovered an oil field off the coast of Romania, with an estimated resource value of $ 1.5 billion.
In 2019, more than 30,000 tons of oil and up to 10 million cubic meters of gas were produced in Georgia. On average, the country consumes about 1.2 million tons of oil products and about 2.5 billion cubic meters of gas per year. Hydrocarbons (oil and gas) are mainly imported from Azerbaijan, Russia, Romania and Bulgaria.
Sputnik-georgia.ru
Tags:
