Stocks at the Norio oil field confirmed

Stocks at the Norio oil field confirmed
Stocks at the Norio oil field confirmed

Giorgi Tatishvili, the Oil and Gas Agency head, talks about the significant oil reserves in the Norio license area. According to him, oil reserves have been confirmed in the field; however, its extraction requires significant financial resources as well as technological experience, and for this purpose, the introduction of a foreign partner in the Norio field is being considered. Tatishvili noted that the oil reserves at the Norio field might be four times more than it was at the famous Samgori field, from which 3 million tons of oil got extracted annually.

"Norio project is one of the best-prepared projects in Georgia. We hope that together with the company "Georgian Oil and Gas" working on this field, we will be able to bring in a strong investor. We are talking about drilling 6,000-meter wells, which requires not only large finances but also powerful technological experience," Giorgi Tatishvili told a Business Partner.

OMV PETROM starts oil exploration and extraction in Georgia.

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