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E & P News

2017

Apr 2017: Goldcrest Resources will acquire a 100% interest in the producing Norio oil field PSA and an option to form a farm-in agreement to acquire a 70% interest in Block VIII PSA that contains the East Khavtiskhevi onshore field in the Republic of Georgia. Norio produces 25 bbls of oil per day from 3 wells drilled in the 1970s.

Apr 2017: The LEPL State Agency of Oil and Gas of the Ministry of Energy has announced an Open International Tender for onshore oil and gas blocks. Eight blocks and part blocks are available in the centre of the country.

2016

Mar 2016: Frontera Resources announced that the South Kakheti Gas Complex four well frac campaign will commence this month.

'2015

Oct 2015: Frontera has increased its gas resource estimate more than tenfold including 266 bcm of recoverable prospective gas resources at the Mtsare Khevi Gas Complex and Taribani Field Complex, now combined to form the South Kakheti Gas Complex.

Apr 2015: Frontera Resources announced  increased potential gas resources at its Mtsare Khevi Gas Complex and Taribani Field Complex after continuous drilling operations, workover operations and gas production operations since Q4 of 2014 .

2014

Jul 2014: Frontera Resources has begun the start of a new drilling campaign at the Mtsare Khevi Gas Complex in the western portion of Block 12. Gas production has continued since commencement in April delivering gas to the national grid via gas gathering/processing facilities and 14 km transportation system which can accommodate a rate of 0.02 bcm each year.

Mar 2014: Frontera Resources has begun gas production at the Mtsare Khevi Gas Complex at an initial rate of 0.02 bcm per year. Frontera estimates approximately 19.8 bcm of gas recoverable in the area.

Jan 2014: Frontera will continue operations to increase oil production at the Taribani and Mirzaani Fields and will drill gas development wells at the Mtsare Khevi Gas Complex. Workovers and fracture stimulation of existing wells at the oil fields could increase production by 300 bbls per day within Block 12.

2013

Aug 2013: Frontera Resources now expects that first gas production at the Mtsare Khevi Field will occur in the fourth quarter of 2013. Appraisal and development drilling  commenced in August 2008.

Jul 2013: Tethys has announced the acquisition of interests in a number of PSCs. It will acquire a 56% interest in Blocks XIA, XIM and XIN in eastern Georgia close to Tbilisi and in a separate transaction will acquire a 100% interest in Block VIII and Block XIG near Tbilisi and in the Kartli area further west.

Apr 2013: Jindal Petroleum has discovered oil in one of its 5 blocks it holds in Georgia.  A well in the XIB licence block is reported to have tested around 150 bbls of oil per day.

Mar 2013: Frontera Resources has approval to proceed with the installation of an 8 km pipeline and facilities within the Mtsare Khevi Field. First gas production is expected by the end of 2013 (GS notes: reported 120 days from March 13th). Frontera is targeting production of approximately 57 mcm per day. The Mtstare Khevi Field is situated within the greater Mtsare Khevi Gas Complex which may hold substantial gas resources.

Feb 2013: Range Resources has reached agreement on the joint development of Coal Bed Methane and conventional gas around the Tkibuli-Shaori Coal Field in Blocks VIa and Vib with the Georgian Industrial Group. The Tkibuli Project has estimated resources of 11 bcm CBM gas. Gas production and sales are planned in less than two years with an initial 3 to 4 well pilot project followed by 6 CBM wells per year perhaps producing a total of 0.025 bcm each year for 3 years.

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