Country Report
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
- Georgian Oil and Gas Corporation (GOGC, state-owned)
- Georgia Oil and Gas Limited (GOG, privately owned)
-
IOCs
- Offshore (Black Sea)
- Onshore
-
Geology
- Introduction
-
Kura-Kartli (South Caspian) basin
- Overview
- Stratigraphy
- Tectonic elements
- Upper Cretaceous-Paleocene
- Lower Eocene
- Middle Eocene
- Upper Eocene
- Maikop
- Miocene
- Shirak suite
- Akchagylian play
-
Black Sea basin (Rioni depression)
- Overview
- Stratigraphy
- Tectonic elements
- Upper Jurassic
- Upper Cretaceous-Paleogene
- Neogene
-
Exploration
-
Licensing
- Regulatory oversight
-
Recent licensing rounds
- Offshore - 2020 licensing round
- Onshore - licensing rounds since 2018
-
Drilling
- Drilling activity
-
Offshore (Black Sea)
- Key current and future E&A activity
- Key historical E&A activity
-
Onshore
- Key current and future E&A activity
- Key historical E&A activity
-
Licensing
-
Reserves and resources
-
Overview
- Liquids
- Gas
-
Reserves
- Reserves by shore status
- Reserves by basin
- Reserves by report
-
Overview
-
Production
-
Liquids
- Historical production
- Current and future production
-
Gas
- Historical production
- Current and future production
-
Liquids
-
Infrastructure
-
Introduction
- Oil
- Gas
-
Oil infrastructure
- Baku-Tbilisi-Ceyhan (BTC) pipeline
- Western Route Export Pipeline (WREP)
-
Rail and sea transportation
- Rail infrastructure
- Ports and shipping
- Refineries
-
Gas infrastructure
- Midstream operator
- Pipelines from Azerbaijan
- Pipelines from Russia
- Domestic grid
- Underground gas storage (UGS)
-
Introduction
-
Policy and regulation
-
Key legislation
- Oil and Gas Law (1999)
- Law on Energy and Water Supply (2019)
- Tax Code
-
Regulatory body
- State Agency of Oil and Gas (SAOG)
- Georgian National Energy and Water Regulatory Commission (GNERC)
-
State oil company
- Georgian Oil and Gas Corporation (GOGC)
-
Key legislation
-
Fiscal terms
-
Overview
- Upstream
- Midstream
-
Current fiscal terms
- Model PSC terms (for future licensing)
- State equity participation
- Fiscal stability
- Royalty
- Ring-fencing
- Cost recovery
- Profit sharing
- Corporate income tax (CIT)
- Decommissioning
- Liquids and gas pricing
- Sample cash flow
-
Overview
Tables and charts
This report includes 43 images and tables including:
- Georgia: liquids production by key field
- Georgia: gas production by key field
- Key facts: Table 1
- Country map
- Georgia: sedimentary basins
- Liquids and gas reserves
- Infrastructure: Table 1
- Reserves and contingent resources at 01/01/2024
- Liquids and Gas Production 2024
- Net Acreage 2024
- East Georgia: stratigraphy
- Petroleum plays
- Petroleum plays
- Georgia: recent block awards
- Georgia: current licences
- Exploration: Table 1
- Reserves and resources: Table 1
- Reserves and resources: Table 2
- Reserves and resources: Table 3
- Contingent resources
- Georgia: liquids production
- Production: Table 1
- Production: Table 2
- Production: Table 3
- Production: Table 4
- Georgia: liquids production by key field
- Production: Table 5
- Production: Table 6
- Georgia: gas production
- Production: Table 7
- Production: Table 8
- Production: Table 9
- Production: Table 10
- Georgia: gas production by key field
- Production: Table 11
- Production: Table 12
- Georgia: oil infrastructure map
- Infrastructure: Table 2
- Georgia: gas infrastructure map
- Fiscal terms: Table 1
- Fiscal terms: Table 2
- Fiscal terms: Table 3
- Fiscal terms: Table 4
What's included
This report contains:
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