NEWS

New oil and gas company to start operating in Georgian Black Sea waters

OMV Petrom is controlled by Austria's OMV, which is the second largest oil and gas company in Austria and the tenth in Europe based on Forbes ratings. Photo: IPN.

Agenda.ge, 25 Jun 2020 - 15:13, Tbilisi,Georgia

Romanian oil and gas company OMV Petrom will begin oil and gas exploration operations in Georgia’s Black Sea waters.

OMV Petrom won the tender of the State Agency of Oil and Gas to obtain a general license to exploit the oil and gas resources of the Black Sea.

The entry of a new, large and well-known investor in Georgia confirms that the business environment in the country, including the field of oil and gas extraction is transparent, attractive and understandable to the world's giants,” said Georgian Economy Minister Natia Turnava.

OMV Petrom is the largest energy company in Southern and Eastern Europe.

The company is active in every aspect of the energy value chain: from wells, producing oil and gas, to refining and fuels distribution, gas supply and power generation and supply. We provide the energy needed for day to day modern life: fuels for mobility, light and heat,” says the official website of the company.

OMV Petrom is controlled by Austria's OMV, which is the second largest oil and gas company in Austria and the tenth in Europe based on Forbes ratings.

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