Mar 2021: OMV Petrom announced the signing of a PSC for offshore Block II in the exclusive economic zone of the Black Sea. It covers an area of 5,282 sq kms and the water depth varies between 400 and 2,000 meters.
Feb 2021: Block Energy announced that, following Georgian Oil & Gas Corporation (GOGC) completing the tie-in of Bago's gas pipeline into the main gas pipeline, gas sales from its West Rustavi field have commenced at 423 bbls of oil per day and 0.02 bcm per year of gas.
Jun 2020: OMV Petrom is the winning bidder for Offshore Block II in the Black Sea, offered in a tender held by the Ministry of Economy and Sustainable Development of Georgia. A PSC will now be negotiated. The block covers a total area of 5,282 sq kms.
Apr 2020: Block Energy have implemented cost-cutting measures in the wake of COVID-19 prior to an EPF and gas processing unit being installed on West Rustavi. West Rustavi has been shut-in to conserve gas until the pipeline is installed later in 2020. Prior to shut-in West Rustavi was producing at 155 bbls of oil per day and 0.01 bcm a year of gas from 2 wells.
Mar 2020: Block Energy will acquire its subsidiary Schlumberger Rustaveli, including Blocks XIB and Block IX in the Kura Basin. Schlumberger will relinquish Block X. Block XIB has produced over 180 mm bbls of oil from the Middle Eocene, peaking in the mid-1980s at 67,000 bbls per day. It is currently producing around 245 bbls per day.
Oct 2019: Block Energy has entered into a gas sales agreement with Bago for the offtake of gas from the West Rustavi field. Sales are expected to commence during Q1 2020. Free and associated gas is currently being flared under a temporary permit.
Sep 2019: Block Energy (operator, 100%) is pursuing a multi-well drilling and 3D seismic programme through 2019/20 to increase oil and gas production across the West Rustavi field. In parallel the company continues to produce oil at its Norio and Satskhenisi licences, at a combined average production rate of 27 bbls per day.
Jul 2019: Block Energy announced resumption of production at well 16aZ at the West Rustavi field, producing at an average rate of 295 bbls of oil per day plus some gas. Produced oil is transported to storage owned by the Georgian Oil and Gas Corporation (GOGC). It also produces small volumes of oil oil at its Norio and and Satskhenisi licences.
Nov 2018: Block Energy reports that ExxonMobil is set to carry out a review of western Georgia's hydrocarbon resource base and potential following the signing of an agreement with the LEPL State Agency for Oil and Gas of the Ministry of Economy and Sustainable Development.
Oct 2018: Block Energy (operator, 100%) announced the start of a workover programme at its Norio oil field on 8 wells. Completion is expected by the end of Q1 2019 with the aim of scaling production from 10 to 150 bbbls per day. An additional sidetrack is also planned to bring production to 250 bbls per day.
Aug 2018: Block Energy (25%) announced that the PSC terms for its West Rustavi licence have been accepted by the government. The PSC will become effective as of September 2018. Service inspections for one workover rig and one drilling rig are complete ahead of mobilisation. Drilling of a horizontal side-track is expected to commence during Q4.
May 2018: Frontera Resources announced that well stimulation and testing at the Dino-2 well in the Taribani Complex of onshore Block 12 yielded oil at a stabilised flow rate of 315 bbls per day. The intention is to continue to test the combined flow of Zones 14 and 15. Success of the testing is a step towards achieving commercial development of the Taribani oilfield.
Apr 2018: Frontera Resources announced the completion of drilling operations at the Dino-2 well, the second of a 3-well drilling campaign at the Taribani complex, Block 12. Data confirmed the presence of 78.8 m of pay intervals in 3 of the target zones in the Eldari Formation.
Feb 2018: Frontera Resources announced that T-45, the first of a 3-well drilling program at the Taribani Complex of Block 12, has been drilled to a target depth of 2700m, in the Eldari Formation. There have been multiple oil and associated gas shows.
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.
Mar 2016: Frontera Resources announced that the South Kakheti Gas Complex four well frac campaign will commence this month.
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 .
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.
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. 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.