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.
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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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An open international tender has been announced by the State Agency of Oil and Gas for a license to conduct a search for oil and gas on the country’s Black Sea shelf, where currently no companies are operating.
American multinational oil and gas corporation ExxonMobil has shown an interest in Georgia’s potential in terms of oil and gas, is going to evaluate the potential of hydrocarbons in the country’s west.
Largest Eastern European oil company OMV Petrom and one of the ten largest oil giants in Europe, is entering Georgia to extract oil and gas in the country as a result of winning an open international tender last year, announces the Ministry of Economy of Georgia.
Largest Eastern European oil company and one of the ten largest oil giants in Europe OMV Petrom and the State Agency of Oil and Gas of Georgia have today signed an agreement on extracting oil and gas on the shelf of Georgian Black Sea waters.
Natural gas reserves in Georgia’s Black Sea shelf and exploration works planned by OMV Petrom, the largest energy company in Southern and Eastern Europe, were discussed at a meeting between Levan Davitashvili, Georgia’s Economy Minister, and the company delegation on Wednesday.