BAKU, Azerbaijan, Sept. 10
Tamilla Mammadova – Trend:
For 2H2021 OMV Petrom, the largest energy company in South-Eastern Europe plans to proceed with geoscientific and environmental studies in Georgia, the OMV Petrom told Trend.
"In March 2021 we signed the Production Sharing Contract for the offshore Block II in Georgia," said the source.
According to the source, the company will prepare for a large offshore 3D seismic campaign in 2022 in Georgia, which will allow for a detailed evaluation of this block’s potential.
"The exploration project in Georgia is in line with our strategy of looking for opportunities in the Black Sea region. We believe that the Black Sea has a high potential for the upstream sector and with our operating experience of over 40 years in the Romanian offshore area we have a competitive advantage in evaluating the opportunities of this basin," added the source.
"This is our first exploration project in Georgia. The signing of the PSA took place in March 2021 after we won in June 2020 the international tender organized by the Ministry of Economy and Sustainable Development of Georgia for offshore acreage," said the OMV Petrom.
OMV Petrom is the largest integrated energy company in South-Eastern Europe, with an annual Group hydrocarbon production of 53 million boe in 2020. The Group has a refining capacity of 4.5 million tons annually and operates an 860 MW high-efficiency power plant. The Group is present on the oil products retail market in Romania and neighboring countries through 793 filling stations, at the end of 2020, under two brands – OMV and Petrom.
OMV Petrom is the largest contributor to the state budget, with contributions of approximately 32 billion euros in taxes and dividends paid between 2005 and 2020.
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