Georgia holds  2 394 mln tons of oil reserves

Georgia holds 2 394 mln tons of oil reserves

access_time2018-09-24 10:15:07

We hear for a long time that Georgia has enough gas and oil resources and the potential to become a gas producing , energy-independent country. "Commersant" tried to find out what volume of resources does  the country hold?

According to the  State Agency of Oil and Gas, 17 companies own general license for oil and gas resources in Georgia;

There are three main reserve categories in the gas and oil sectors: proved, probable and possible reserves.

According to data provided by the  Oil and Gas Agency, oil proved reserves in Georgia amounted to 2 394 million tons,  gas reserves-  303.825 million m3.

Oil and gas reserves in 2018:

reserve categories         oil (mln)

Proved reserves: 2.304 million tons

Probable reserves: 5.704 million tons

Possible reserves: 32.7715 million tons

Reserve category:   Free Gas (M3)

Proved reserves: 303.825 million m3

Probable reserves: 375.308 million m3

Possible reserves: 3P - 824.750 million m3

According to the Oil and Gas Agency, in 2017, 23425.53 tons of oil was processed in Georgia:

Naphta 3424.9 tons;

Petrol 2197.7 tons;

Diesel 9986.9 tons;

Masut 8751.9 tons.

"Globus" Ltd and "ZD Oil Company Ltd" are two oil refineries that are licensed in Georgia.

The licenses for both enterprises were issued in 2015 for a period of  25 years. 

The analysis conducted by the Oil and Gas Agency's accredited laboratory shows that the oil products produced in Georgia are fully compatible with the standards that are  in force in the country. Lead was not detected in  fuel, the voluminous share of aromatic hydrocarbons was 25% and the mass of sulfur - 8 mg / kg. Cetane index is 50.5 mg in diesel fuel and sulfur content is 99 mg / kg.


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