A large gas field was discovered in Georgia. This was stated by the head of the State Oil and Gas Agency of the country Giorgi Tatishvili on the air of Business Media Georgia.
The British company Block Energy, whose shares are traded on the London Stock Exchange, will be engaged in gas production. According to Tatishvili, the company will start implementing the project at the end of this year or the beginning of next year. Gas production will require horizontal drilling.
It should be noted that in 2021, gas consumption in Georgia amounted to about 2.6 billion cubic meters, and production – only 15 million cubic meters.
Gas volumes are estimated at 16 billion cubic meters, which, with proper production, can meet Georgia’s gas needs for 8 years.
Earlier, the American company Frontera assured that they had determined the presence of gigantic oil and gas reserves in Georgia, but government representatives did not confirm the information. Soon the parties began an arbitration dispute, which was won by the Georgian government.