Report on Georgian oil development initiatives

Jul 06, 2000 02:00 AM

Georgia launched two oil projects in late June of 2000. Local authorities signed a contract with the American firm Anadarco on surveying the distribution of oil and gas on Georgia's Black Sea shelf. Experts have estimated local reserves at 200 mm tons of oil. Anadarco has obtained the exclusive right to their development and pledged to invest over $ 1 bn in the project at the initial stage of prospecting. The contract has a term of 25 years, and Anadarco will soon open an office in Georgia.
The EBRD has also promised a long-term credit to Frontera Resources of the United States to develop the Gare-Kakheti oil deposits in Georgia. American and Georgian experts believe that those reserves are sufficient for commercial development.

Source: Vremyamn via NewsBase
Alexander's Commentary

Change of face - change of phase

In the period of July 20 till August 3, 2015, Alexander will be out of the office and the site will not or only irreg

read more ...
« October 2019 »
October
MoTuWeThFrSaSu
1 2 3 4 5 6
7 8 9 10 11 12 13
14 15 16 17 18 19 20
21 22 23 24 25 26 27
28 29 30 31

Register to announce Your Event

View All Events