Georgian Ministry of Energy sells general licenses to develop three oil and gas blocks

Azerbaijan, Baku, June 6 /Trend N.Kirtzkhalia/ Agency of Natural Resources operating under the Ministry of Energy and Natural Resources conducted a tender for the purchase of a general license for the development of 4 blocks of oil and gas resources. The tender was attended by Georgian-British oil company International Oil Consortium and the Georgian ELENILTO GEORGIA, Georgian Ministry of Energy told Trend. The consortium has acquired the right to develop XI-M and XI-N blocks. ELENILTO GEORGIA has acquired the general license for the development of XI-H block. No one participated in the tender for the development of XI-V Block. Bonus of subscription to all three units is only $1,596 million. Some $110 million will be invested during the four years after the receiving right to develop the blocks. Do you have any feedback? Contact our journalist at agency@trend.az