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Oil extraction in Georgia

Oil extraction in Georgia

There are three types of oil extraction in Georgia, these are proven, probable and possible supplies. According to the State Agency of Oil and Gas, Georgia has pretty good amount of oil supplies. For example, the country owns 2.304 million tonnes of proven reserves, with the estimated stocks ranging from 5.700 million tonnes, and possible reserves to 32.7715 million tonnes.

Statistics show that oil production in Georgia is decreasing. According to the Georgian Oil and Gas Corporation, Georgia exported 30,159 tonnes of oil in 2018, compared to 31,000 tonnes in 2017 and 38,000 tonnes in 2016.

There are 13 companies engaged in oil exploration and production in Georgia, which are licensed by the Georgian Oil and Gas Corporation.

According to the oil refining report, in 2017, a total of 23 425.53 tons of oil were processed in Georgia and received: 3424.9 tons of oil, 2197.7 tons of gasoline, 9986.9 tons of diesel and 8751.9 tons of turk.

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