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ExxonMobil to Study Hydrocarbon Resources in Georgia

On October 23, an agreement on Conducting Fieldwork on Hydrocarbon Resources in Georgia was signed by the LEPL State Agency for Oil and Gas of the Ministry of Economy and Sustainable Development of Georgia and the ExxonMobil. The Minister of Economy and Sustainable Development, Giorgi Kobulia attended the signing ceremony.

Within the scope of the Agreement, the company will evaluate the potential of hydrocarbons in West Georgia. The parties agreed that after completing the examination of the geological and geophysical data transmitted by the Agency to the company, the ExxonMobil is to prepare the report and the integrated database.

“The fact that such a large company that is a leading company in the world got interested in Georgia’s potential in terms of oil and gas, is a promising fact of outstanding significance. We are looking for having the opportunity to use the gas and oil resources for the good of our country,” – the Minister of Economy and Sustainable Development, Giorgi Kobulia stated.

According to company representative Jonathan Wilson, they are happy with cooperation with the Georgian side and will be able to use the experience to study Georgian hydrocarbon potential