GEORGIA

(in Former Soviet Union)

CAPITAL: TBILISI

POPULATION: 5 mm

AREA (on): 69,700 km2

OIL PEAK: 1982 (forecast)

SUPPLY

Georgia produces modest amounts of oil and gas onshore from marginal fields near the Black Sea coast.

New foreign joint ventures operating in the country have had negligible effect on production rates since 1997 and no success has yet been registered in the Black Sea. However remedial work on old fields in the Kura basin could increase output in the short term so modest increases in oil production is forecast. Associated gas production is negligible.

 

DEMAND

Oil consumption in Georgia, nearly all of which is imported, has been declining since 2005 and is likely to remain flat. Although the BTC pipeline from Azerbaijan passes across the country it is not forecast to have a significant effect on oil consumption.

Gas consumption, also mostly imported, may increase rather faster as additional gas becomes available from the parallel gas pipeline running from Azerbaijan.

 

 
 

 

 

This is a simple forecast - detailed forecasts including offshore and onshore, deep water splits, sedimentary basins and major fields and drilling etc. can be purchased for most countries.

 

An onshore and offshore oil and gas production, consumption and drilling activity forecast report on this country can be commissioned,

including all relevant charts. Contact us for price and contents list.

 

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