Georgia

OMV Petrom continues to expand its operations in the Black Sea region

In June 2020 OMV Petrom, the largest energy company in South-Eastern Europe, has been selected as the winner of the open international tender held by the Ministry of Economy and Sustainable Development of Georgia for the Offshore Block II.

In March 2021 OMV Petrom signs the Production Sharing Contract (PSC) for the offshore Block II in the exclusive economic zone of the Georgian Black Sea.

The PSC provides for exploration, development and production of hydrocarbon resources in the offshore Block II. It covers a total area of 5,282 square kilometers and the water depth varies between 400 and 2,000 meters.

As an operator, OMV Petrom has established an operating company in Georgia, proceeded with geoscientific and environmental studies in 2021. Due to ongoing farm down activities and the political context in the area activities are on hold.

Facts / Milestones
 

• 2020 OMV Petrom is the winning bidder for the offshore oil and gas exploration Block II in the Black Sea.
• 2021 OMV Petrom signs the Production Sharing Contract for the offshore exploration Block II.