BAKU, Azerbaijan, March 30. OMV Petrom, an Austrian - Romanian integrated oil company, will carry out three-dimensional seismic exploration works on Georgia’s Black Sea shelf over the next year, Trend reports via the press service of the Ministry of Economy and Sustainable Development of Georgia.
The issue was discussed between the Minister of Economy and Sustainable Development Levan Davitashvili, Georgia’s State Agency of Oil and Gas, and the representatives of the OMV Petrom.
The sides discussed the company’s natural gas research activities in the Black Sea, and the next stages of the project, which will include seismic exploration works and drilling.
“According to the estimates, there are significant capacities of natural gas in Georgia’s Black Sea shelf, and an active work is underway with the State Agency of Oil and Gas on actual exploration of those reserves,” Davitashvili said after the meeting.
Meanwhile, OMV Petrom will conduct a large-scale research on Georgia’s Black Sea shelf with a total value of $30 million. The company signed the Production Sharing Contract for the offshore Block II in Georgia in March 2021.
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