The Austrian company OMV Petrom will start developing gas and oil on the Black Sea shelf of Georgia in May 2022, the Georgian Oil and Gas Agency informs.
OMV Petrom S.A signed a deal with Georgia on the development of oil and gas on the Black Sea coast of Georgia in April 2021.
According to the agreement, the Austrian company will be engaged in the extraction, collection, processing and reinterpretation of geological and geophysical data on the shelf, with an area of 5,282 km2. The contract is signed for 25 years.
