Project Profile

Location: eastern Georgia
Value: Undisclosed
Reserves: 1.6 million barrels (3P oil reserves)
Start-up Year: -

Block Energy controls a 25% stake in the West Rustavi oil and gas field in eastern Georgia, alongside state-owned partner Georgia Oil & Gas. It has an option to raise its interest to 75%, pending the completion of its work programme.

West Rustavi is the main focus of Block Energy’s current exploration plans. It contains 470,000 barrels of 1P, 906,800 barrels of 2P and 1.6062 million barrels of 3P oil reserves. It also holds 17.2 bcm in 2C gas resources.

Operators: 

Georgia Oil and Gas: 75% interest

Block Energy: 25% interest