Oil Production

Oil production in Georgia started in the twenties of the XX century. Until the seventies of the XX century Extraction works were carried out on seven small fields (Mirzaani, Patara Shiraqi, Supsa, Norio, Satskhenisi, Taribana and East Chaladidi) and average annual production made up about 20-55 thousand tons. Later several prolific oil fields were discovered near Tbilisi (Samgori-Patarzeuli-Ninoitsminda, Samgoti South Dome, and Teleti) and the annual production exceeded 3 million tons.

Currently, the territory is divided into license blocks, where different companies selected through international tenders extract oil. They have concluded production sharing agreements with the government. GOGC as a national oil company (NOC) cooperates with the companies, monitors their activities and manages state share of oil.

At present, five investment companies are carrying out extraction works in Georgia, among them are: Blake Oil and Gas, Jindal Petroleum (Georgia) Limited, Frontera Resource Georgia, Georgian Oil and Gas and VP Georgia. Seven other companies - Strait Oil and Gas, Elenito, International Oil Consortium, Marexin, Strait Adjara, Trans-Atlantic and Georgian Oil Consortium are conducting only exploration works.

Cummulative oil production in Georgia to date amounts to 27.7 million tons. Over the last decade the annual production averaged 70.5 thousand tons.