Country Report

Georgia upstream summary

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01 February 2019

Georgia upstream summary

Report summary

Georgia is currently a minor oil and gas producer. However, it is a vital transit route for Caspian hydrocarbons. Oil from Azerbaijan and Central Asia crosses the country, largely via the Baku-Tbilisi-Ceyhan (BTC) pipeline. Georgia also transits Azerbaijani gas and is a key part of the strategic Southern Gas Corridor to Europe. To date, most drilling in Georgia has focused on shallower reservoirs. There is higher-cost potential in deeper reservoirs and offshore (Black Sea).

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
      • 2018 licensing round
      • Repsol and ExxonMobil Joint Study Agreements (JSAs)
      • Historical licensing
      • Licensing rounds: 2002-17
    • Drilling
      • Drilling activity
    • Reserves and resources 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 (UGS)
    • Rail transportation and ports
    • Georgian ports
      • Batumi
      • Supsa
      • Poti
      • Kulevi
    • Refining
    • Key legislation
      • Oil and Gas Law (1999)
      • Laws on Entrepreneurial Activity and Investment Activity (1996 and 1994)
      • Tax Code (2005)
    • Regulatory body
    • State oil company
      • Georgian Oil and Gas Corporation (GOGC)
    • Licensing
      • Biddable parameters
      • Natural gas
    • Current fiscal terms
    • Overview
      • Upstream
      • Midstream
    • Current fiscal terms
      • Basis
      • Government equity participation
      • Royalty
      • PSC production sharing
      • PSC cost recovery
      • PSC profit sharing
      • Corporate (or petroleum) income tax
      • Fiscal treatment of decommissioning costs
    • Product pricing
      • Liquids pricing
      • Natural gas pricing
    • Sample cash flow

Tables and charts

This report includes 27 images and tables including:

  • Liquid production by key field
  • Key facts: Table 1
  • Country map
  • Georgia: sedimentary basins
  • Active licences
  • Reserves and resources: Table 1
  • Remaining and produced commercial liquids and gas reserves at 01/01/2019
  • Reserves and resources: Table 2
  • Liquids production (2005-2025)
  • Production: Table 3
  • Production: Table 4
  • Infrastructure: Table 1
  • Georgia: oil pipeline routes
  • Georgia: gas pipelines
  • Infrastructure: Table 2
  • Fiscal terms: Table 5
  • Tertiary stratigraphy of east Georgia
  • Petroleum plays in the Georgian South Caspian basin
  • Petroleum plays in the Georgian Black Sea basin
  • Exploration: Table 1
  • Liquid production by key field
  • Production: Table 1
  • Production: Table 2
  • Fiscal terms: Table 1
  • Fiscal terms: Table 2
  • Fiscal terms: Table 3
  • Summary of modelled terms

What's included

This report contains:

  • Document

    Country Overview

    PDF 22.13 MB

  • Document

    Country Overview

    XLS 368.50 KB

  • Document

    Country Overview

    ZIP 22.07 MB

  • Document

    Executive summary

    PDF 706.25 KB

  • Document

    Key facts

    PDF 682.80 KB

  • Document

    Location maps

    PDF 3.14 MB

  • Document

    Key companies

    PDF 705.44 KB

  • Document

    Geology

    PDF 6.88 MB

  • Document

    Exploration

    PDF 6.97 MB

  • Document

    Reserves and resources

    PDF 723.94 KB

  • Document

    Production

    PDF 728.05 KB

  • Document

    Infrastructure

    PDF 7.11 MB

  • Document

    Policy and regulation

    PDF 705.54 KB

  • Document

    Fiscal terms

    PDF 736.92 KB

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