BAKU, Azerbaijan, Nov. 8
By Maryana Akhmedova – Trend:
Georgia’s oil production from January through August 2021 amounted to 26,000 tons, which is an increase of 36 percent, compared to the same period of 2020, Trend reports via Georgian Agency of Oil and Gas.
The annual production of oil in Georgia in 2020 amounted to 30,000 tons, the report said.
Georgia’s natural gas production over first 8 months of 2021 totaled 14 million cubic meters, which is an increase of 40 percent, compared to 10 million cubic meters over the same period of 2020.
According to the Agency, 11 investor companies are engaged in oil and gas production and exploration in Georgia, which have concluded 25 production sharing agreements with the government based on the results of tenders.
A significant increase in production is due to modern methods of work of oil companies, in particular, horizontal drilling with an ultra-small radius of curvature, three-dimensional seismic exploration and magneto geophysical studies, the statement said.
The commissioning of the updated wells revealed significant prospects for increasing oil and gas production at the field west of Rustavi and at neighboring fields (Samgori-Patardzeu and Teleti), where similar work is already planned, the Agency reports.
According to the Agency, the oil produced in Georgia is completely processed on site at two refineries. In total, 28,437 tons of oil was processed in 2020.
Thus, Georgian refineries processed 28,932 tons of oil over three quarters of 2021, which is an increase of 47 percent, compared to 19,000 tons over the same period of 2020.
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