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Foreign investors will invest about $ 150 million in oil exploration and production in Georgia Featured

Foreign investors will invest about $ 150 million in oil exploration and production in Georgia

Foreign investors will invest in oil exploration and production in Georgia for at least $150 million.

This was announced in country's National Agency of oil and gas. In 2012 for searching works and oil production was spent $ 68 million.

 

Investors of related works are several companies, including American-British Blake Oil and Gas, which mainly operates in Kakheti (Eastern Georgia), and the Indian Jindal Petroleum, spanning several regions and drilled since the fall of last year from 8 wells from planned 10.

 

According to the Indian company, each well requires investments in the amount from $5 to $ 20 million.

 

Currently in Georgia produced 50 tons of oil per year. There is no in the country oil refining powers, and all mined raw materials goes abroad.

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