Elenilto, a global exploration and mining company, has won an international competitive tender conducted by the government of Georgia to operate an oil and gas block in the country.
The onshore oil and gas XI-H block covers an area of 185km² and is located within the Tbilisi oil and gas bearing province within the east Adjara-Trialeti thrust and fold belt.
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Elenilto said the geophysical and deep drilling data have indicated a thick sequence (7-10km) of Cretaceous, Tertiary and Quarterly sediments from the east Adjara-Trialeti (sag zone).
The company said that many exploration wells have been drilled, mainly for oil and gas but also for thermal waters within the Block XIH and adjacent areas.
Drilling within the area reached some deepest wells reached 4,200m, and the oldest rocks encountered include upper Cretaceous sediments.
In adjacent blocks, several oil, gas and gas-condensate fields were intercepted in Eocene sediments.
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By GlobalDataElenilto said the XI-H block is situated adjacent to the Jindal petroleum blocks, of which one is producing and has an estimated recoverable reserve of 234 million barrels of crude oil and 840bcf of gas.
The Frontera’s block also located nearby has an estimated resource of 700bcf, and Blake Oil and Gas blocks with resources of 357 million barrels of oil equivalent recoverable and potential to 2,151 million barrels of oil equivalent.
