MINISTRY OF ECONOMY
AND SUSTAINABLE DEVELOPMENT
OF GEORGIA

On October 23, an agreement on Conducting Fieldworks on Hydrocarbon Resources in Georgia was signed by the LEPL State Agency for Oil and Gas of the Ministry of Economy and Sustainable Development of Georgia and the ExxonMobil. The Minister of Economy and Sustainable Development, Giorgi Kobulia attended the signing ceremony.

Within the scope of the Agreement, the company will evaluate the potential of hydrocarbons in West Georgia. The parties agreed that after completing the examination of the geological and geophysical data transmitted by the Agency to the company, the ExxonMobil is to prepare the report and the integrated database.

“The fact that such a large company that is a leading company in the world got interested in Georgia’s potential in terms of oil and gas, is a promising fact of outstanding significance. We are looking for having the opportunity to use the gas and oil resources for the good of our country,” – the Minister of Economy and Sustainable Development, Giorgi Kobulia stated.

According to company representative Jonathan Wilson, they are happy with cooperation with the Georgian side and will be able to use the experience to study Georgian hydrocarbon potential.

“On behalf of ExxonMobil I would to say what a pleasure it is to sign this cooperation agreement today. We have worked for a decade in the Black Sea and the surrounding areas. And it is a pleasure to extend the knowledge and experience to evaluate the potential of Georgia. We look forward to working closely with the state agency involved in the gas sector. And it is a great pleasure to sign this agreement here in this beautiful city of Tbilisi,” – Jonathan Wilson commented.

The Head of the LEPL State Agency for Oil and Gas, Giorgi Tatishvili highlighted the importance of cooperation with one of the largest companies in the world, the ExxonMobil. “Following the Agreement, the ExxonMobil will examine the data provided by our agency and then prepare the Evaluation Report on Hydrocarbon Potential in West Georgia. We will use that Report for further planning which should lead us to new sources of oil and gas,” – Tatishvili stated.

Giorgi Tatishvili also noted that the ExxonMobil will provide trainings for the employers of the Agency to perfect their skills in using the database and stratigraphic analysis.