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17.02.2014 10:02

Georgia explores oil fields

According to him, there is an opportunity of discovering fields with reserves of 680 million tons of oil in Georgia: “Oil production started in Georgia in the 1990s. The matter rested in the volumes of 3.5 million tons of oil per year. Currently, oil is being produced in Georgia, but the required volumes have not yet been achieved”.

He also said the country the licensed blocks. A poll of interests in which the foreign companies are involved has been announced. At present, Georgia has 25 licensed blocks where exploration operations are being conducted, but a positive result has not yet been achieved.

Georgia imports 100% of consumed oil products and 28.89% of these imports are from Azerbaijan. Georgia imported oil and oil products amounting to $954.41 mln. in 2013. 295,740 tonnes of oil and oil products amounting to $275.69 mln. were sent from Azerbaijan.

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