BAKU, Azerbaijan, June 25
By Tamilla Mammadova – Trend:
Austrian OMV oil company, one of the ten largest global oil giants in Europe, will be engaged in search for, and extraction of, oil and gas in Georgia as a winner of an open international tender, said Minister of Economy and Sustainable Development Natia Turnava, Trend reports citing Georgian media.
She made the remark at the briefing of the government administration on June 25.
According to the Ministry of Economy, on June 22, 2020, the LEPL Oil and Gas Agency of the Ministry of Economy and Sustainable Development of Georgia conducted an open international tender to obtain the General License for the Oil and Gas Resources on the Black Sea II and III License Blocks. OMV PETROM SA, the member company of OMV Group, was announced the winner for the II License Block.
As the minister noted, the company that won the tender will start drilling after the seismic studies.
"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 and attractive to the world'sleading companies,” said 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, 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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