$84 million to be invested into oil and gas exploration in Georgia

There are plans to invest additional $84 million into oil and gas exploration and production in Georgia in 2013, said Georgian Minister of Energy and Natural Resources Kakha Kaladze during his visits to oil and gas production fields of Gindal petroleum LTD Company in Okami and Sartichala.

«Major companies are interested in exploration works in Georgia, and Indian Gindal petroleum LTD is among them. It started boring in January, and oil production was commenced in March. We are speaking about the production of 25 tons of oil a day, and there is a great probability for the rise in the production up to 50 thousand tons», – Kaladze has noted.

The Minister of Energy and Natural Resources has informed that several companies had already started their operations in the country after the obtainment of licenses for exploration works.

English translation by BSN