ნავთობისა და გაზის სახელმწიფო სააგენტო

State Agency of Oil and Gas

საიტის რუკა
8 მაისს სააგენტომ და Jindal Petroleum Georgia Limited-მა IX, X და XIB სალიცენზიო ბლოკებზე გაფორმებული პროდუქციის წილობრივი განაწილების ხელშეკრულებების დამატებებს მოაწერეს ხელი, რომლებითაც Jindal Petroleum Georgia Limited-მა წილები გადასცა Schlumberger Rustaveli Company Limited-ს (შლუმბერჟე). შლუმბერჟემ იკისრა ვალდებულება იმოქმედოს დაგეგმილი ინვესტიციების განხორციელების გრაფიკის შესაბამისად --------- იხილეთ https://www.facebook.com/StateAgencyofOilandGas/------ see https://www.facebook.com/StateAgencyofOilandGas/
შემთხვევითი ფოტო
The Agency makes the statement

The first half of 2017 has been an active period for the Georgian energy sector.

The year started with the State Agency of Oil and Gas of Georgia (Agency) and JSC Georgian Oil and Gas Corporation (GOGC) signing a production sharing contract for Samgori South Dome on January 9, which provides for the drilling of two appraisal wells that can be used for an underground gas storage project.

With the grant to LLC ZD Navtobis Compania on February 27 of a business license for oil refining (compounding), oil refining in Georgia will be expanded.

On April 3, the Agency announced an international tender for licenses for the exploitation of oil and gas resources in Georgia, in accordance with the Georgian Law on Oil and Gas (see press release dated May 8, 2017). Many international companies submitted bids, which underscores Georgia’s recognition as a country open for business. In the recent World Bank Doing Business Ranking of 190 countries, Georgia ranked 16th, just behind Australia, a natural resource rich country, and ahead of Germany (17th), the European economic power-house, and Canada (22nd), also a natural resource rich country.

The submitted bids were publicly opened on May 22, and based on the recommendation of the Tender Commission and the decision of the Head of the Agency, the following best bidders were named:

V block – Consortium of West Gulf Petroleum Engineering Company Ltd, and China New Star Energy Company (CNEC);
VIA block – Consortium of LLC Georgia Coalition Energy Limited Company and CNEC;
VIB block – Consortium of LLC Georgia Coalition Energy Limited Company and CNEC;
VIC block – CBM Georgia Ltd;
XIF block – Georgia Oil and Gas Ltd; Georgia New Ventures Inc.

The parent companies of the successful bidders are from around the world and the bidders as a group have committed to invest USD 55 million in the Georgian energy sector. After these companies submit required documentation, including bank guarantees for the payment of the mandated signature bonus, negotiations of production sharing contracts will commence. As a result, all companies will be required to carry out works as stipulated in the four year minimum work program of their respective production sharing contracts.

On March 20, Vectra Petroleum Limited and the Agency signed an amendment to the production sharing contract approving the assignment of 50% of Vectra’s interest in the license for block VIIB to NauticAWT Pte Limited, which will bring added technical and financial support to the exploitation of that block.

On May 8, the Agency and Jindal Petroleum Georgia Limited signed amendments to the production sharing contracts concerning blocks IX, X and XIB providing for the assignment of shares from Jindal Petroleum Georgia Limited to Schlumberger Rustaveli Company Limited (Schlumberger). Schlumberger has committed to a schedule of investments in those blocks and has assumed 100% interest in the production sharing contracts.

With respect to block XIA, Georgia Oil and Gas Limited and Trialeti Petroleum Limited exercised its contractual right to terminate the production sharing contract dated November 25, 2011, and notified the Agency accordingly.

On June 26, the Agency and GOGC met in Tbilisi with Frontera Resources (Frontera) concerning its plans for Block XII and also to address Frontera’s unfounded negative statements to US officials and others about Georgia's business climate. The meeting comes after Frontera’s April 11th announcement that it had determined the feasibility of commercial production in Block XII and estimated that the geologic targets identified contain more than 1 billion barrels of original oil in place. The technical and economic feasibility of these targets has yet to be determined and requires further work which will necessitate significant investment. According to its 2016 financial statements, Frontera had oil and gas sales of USD 3.1 million and net losses of USD 23.6 million (which include interest expense from debt of USD 9.2 million). To support its work program and achieve profitability, Frontera announced in May that it needs to focus on securing a strategic partner. Any assignment is subject to the satisfaction of all the requirements of the production sharing contract.



2014 © State Agency of Oil and Gas