Economy Minister, OMW Petrom delegation discuss gas exploration project
Davitashvili said “intensive work” was currently underway with the State Agency of Oil and Gas to ensure potential gas supplies were explored to obtain and use the resources in the “best interests” of the country. Photo: Georgian Economy Ministry
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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.
The importance of the Austrian-Romanian oil and gas company’s project for three-dimensional seismic exploration of the shelf was noted during the meeting, along with the existence of “significant reserves” of natural gas in the area.
Following the exploration works planned for the upcoming year, OMV Petrom will launch drilling as part of the next stage of the Georgian project worth $30 million.
Davitashvili said “intensive work” was currently underway with the State Agency of Oil and Gas to ensure potential gas supplies were explored to obtain and use the resources in the “best interests” of the country.
Along with the extraction project, the oil company is also aiming to implement exchange programmes for students of Georgian higher education institutions starting next year.
OMV Petrom and the State Agency of Oil and Gas of Georgia signed an agreement on extracting oil and gas from the shelf of Georgia’s Black Sea waters in March last year.
The extraction project by one of the ten largest oil companies in Europe will see Georgia join the countries where oil and gas exploration in the shelf is underway, the Economy Ministry said.
An agreement on a €2 million programme on developing sustainable energy in Georgia was signed on Thursday between Levan Davitashvili, the Georgian Economy Minister, and Jeppe Kofod, the Danish Foreign Minister.
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.
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.
Romanian oil and gas company OMV Petrom will begin oil and gas exploration operations in Georgia’s Black Sea waters.
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.
Georgian-Azerbaijani strategic cooperation and historic ties were discussed by Levan Davitashvili, the Georgian Economy Minister, and top officials of the host country, the Economy Ministry announced on Friday.
Georgian Economy Minister Levan Davitashvili will be on a visit to the United States between Monday and Wednesday to hold meetings with public officials and private sector representatives, the Ministry announced on Monday.
A natural gas field with a volume of 16 billion cubic metres has been discovered near the Georgian capital city of Tbilisi, Giorgi Tatishvili, the Head of the State Oil and Gas Agency, told local media outlet BMG on Monday.