State Agency of Oil and Gas to exploit Black Sea shelf oil
State Agency of Oil and Gas to exploit Black Sea shelf oil

The State Agency of Oil and Gas will exploit the Black Sea shelf oil from May 2022.

According to the Agency, an Austrian company will conduct large-scale research with a total value of USD 30 million.

Georgia signed the agreement of stakeholding distribution in April of 2021. OMV Petrom has a 7-year work plan assigned by the contract.

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