Country Report

Georgia upstream summary

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07 November 2017

Georgia upstream summary

Report summary

Vital transit country for Caspian hydrocarbons - Oil from Azerbaijan and Central Asia crosses the country - either via rail to Georgia's Black Sea ports, or via the Baku-Tbilisi-Ceyhan (BTC) and Western Route Export Pipeline routes. Georgia also transits Azerbaijani gas through the South Caucasus Pipeline, which is a key part of the strategic Southern Gas Corridor project. Few proved hydrocarbons, but potential exists - All significant discoveries to date have been in the South ...

Table of contents

  • Executive summary
  • Key facts
  • Location maps
  • Key companies
    • Introduction
    • South Caspian (Kura-Kartli) basin
      • Stratigraphy
      • Tectonic elements
      • Upper Cretaceous-Paleocene play
      • Lower Eocene play
      • Middle Eocene volcaniclastics
      • Upper Eocene Clastics play
      • Maikop play
      • Miocene
      • Shirak suite
      • Akchagylian play
    • Black Sea basin (Rioni Depression)
      • Stratigraphy
      • Tectonic elements
      • Petroleum plays
      • Upper Jurassic Limestones
      • Upper Cretaceous-Paleogene
      • Neogene
    • Licensing
      • Historical licensing
      • Licensing rounds: 2002-12
      • Ad-hoc licensing activity: 2013-
      • 2017 licensing round
    • Drilling
      • Drilling activity
    • Oil and gas reserves classification
      • Georgian reserve classification system
      • Georgian gas reserves
      • Wood Mackenzie methodology
    • Commercial reserves by basin
      • Liquids
      • Gas
    • Liquids
      • Current and future production
    • Gas
    • Introduction
    • Oil infrastructure
      • Baku-Tbilisi-Ceyhan (BTC)
      • Western Route Export Pipeline (WREP)
    • Gas infrastructure
    • Azerbaijan
      • South Caucasus Pipeline (SCP)
      • Kazi-Magomed-Kazakh
    • Russia
      • North-South pipeline (Mozdok-Tbilisi)
    • Domestic grid
      • Relations with Russia
      • Underground gas storage
    • Rail transportation and ports
    • Georgian ports
      • Batumi
      • Supsa
      • Poti
      • Kulevi
    • Refining
      • Batumi
    • Introduction
    • Capital costs
      • Capital expenditure by location
    • Key legislation
      • Oil and Gas Law (1999)
      • Laws on Entrepreneurial Activity on Investment Activity (1996 and 1994)
      • Tax Code (2005)
    • Regulatory body
    • State oil company
      • Saknavtobi
      • Georgian International Oil Company (GIOC)
      • Georgian International Gas Corporation (GIGC)
      • Georgian Oil and Gas Corporation (GOGC)
    • Licensing
    • Current fiscal terms
    • Overview
      • Upstream
      • Midstream
    • Production Sharing Contracts (PSCs)
      • State equity participation
      • Bonuses, rentals and fees
      • Area rentals
      • Training fees
    • Indirect taxes
      • VAT / sales taxes
      • Import duties
      • Social development levies
    • Royalty and other production taxes
      • Royalty
      • Export duty
      • Environmental / CO2 taxes
      • Domestic market obligation (DMO)
      • Contractor revenue entitlement
    • Product pricing
      • Liquids pricing
      • Natural gas pricing
    • Cost recovery
      • Cost recovery ceiling
      • Cost carry forward
    • Profit sharing
    • Corporate (or petroleum) income tax
      • Tax rate
      • Additional profits taxes
    • GEM models

Tables and charts

This report includes 26 images and tables including:

  • Liquid production by key field
  • Key facts: Table 1
  • Country map
  • Georgia: sedimentary basins
  • Active licences
  • Reserves and resources: Table 2
  • Remaining and produced commercial liquids and gas reserves at 01/01/2018
  • Reserves and resources: Table 3
  • Liquids production (2005-2025)
  • Production: Table 3
  • Production: Table 4
  • Infrastructure: Table 1
  • Georgia: oil pipeline routes
  • Georgia: gas pipelines
  • Infrastructure: Table 2
  • Tertiary stratigraphy of east Georgia
  • Petroleum plays in the Georgian South Caspian basin
  • Petroleum plays in the Georgian Black Sea basin
  • Exploration: Table 1
  • Reserves and resources: Table 1
  • Liquid production by key field
  • Production: Table 1
  • Production: Table 2
  • Costs: Table 1
  • Costs: Table 2
  • Fiscal terms: Table 1

What's included

This report contains:

  • Document

    Country Overview

    PDF 21.70 MB

  • Document

    Country Overview

    XLS 517.50 KB

  • Document

    Country Overview

    ZIP 22.11 MB

  • Document

    Executive summary

    PDF 98.70 KB

  • Document

    Key facts

    PDF 66.34 KB

  • Document

    Location maps

    PDF 2.55 MB

  • Document

    Key companies

    PDF 61.92 KB

  • Document

    Geology

    PDF 6.31 MB

  • Document

    Exploration

    PDF 6.41 MB

  • Document

    Reserves and resources

    PDF 129.34 KB

  • Document

    Production

    PDF 122.59 KB

  • Document

    Infrastructure

    PDF 6.54 MB

  • Document

    Costs

    PDF 102.11 KB

  • Document

    Policy and regulation

    PDF 100.28 KB

  • Document

    Fiscal terms

    PDF 123.95 KB

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