An agreement on conducting fieldworks on hydrocarbon resources in Georgia was signed by the LEPL State Agency for Oil and Gas of the Ministry of Economy and Sustainable Development of Georgia and private company ExxonMobil. The Minister of Economy and Sustainable Development, Giorgi Kobulia, attended the signing ceremony, GeorgiaToday reports.
Within the scope of the Agreement, the company will evaluate the potential of hydrocarbons in West Georgia. The parties agreed that after completing an examination of the geological and geophysical data transmitted by the Agency to the company, ExxonMobil will prepare a report and an integrated database.
“The fact that such a large company that is a leading company in the world got interested in Georgia’s potential in terms of oil and gas, is a promising fact of outstanding significance. We are looking for having the opportunity to use the gas and oil resources for the good of our country,” said Kobulia.
Exxon representative Jonathan Wilson expressed his satisfaction with their cooperation with Georgia, and are looking forward to studying Georgian hydrocarbon potential.
“On behalf of ExxonMobil I would to say what a pleasure it is to sign this cooperation agreement today. We have worked for a decade in the Black Sea and the surrounding areas, and it is a pleasure to extend our knowledge and experience to evaluate the potential of Georgia. We look forward to working closely with the state agency involved in the gas sector. And it is a great pleasure to sign this agreement here in this beautiful city of Tbilisi,” remarked Wilson.
The Head of the LEPL State Agency for Oil and Gas, Giorgi Tatishvili, highlighted the importance of cooperation with one of the largest companies in the world, saying "Following the Agreement, ExxonMobil will examine the data provided by our agency and then prepare the Evaluation Report on Hydrocarbon Potential in West Georgia. We will use that Report for further planning which should lead us to new sources of oil and gas."
Tatishvili also noted that ExxonMobil will provide trainings for Agency employees to perfect their skills in using the database and stratigraphic analysis.