International consortium to start oil exploration at licensed blocks in Georgia

The Georgian-British international oil consortium is to start prospecting and exploration works at two licensed blocks in Georgia. The Georgian Oil company Norio, registered at the Virgin Islands and British Georgia Oil & Gas Limited, Georgia oil and gas Triality Limited and Georgia oil and gas Norio Limited are founders of the consortium.

As Trend  reported citing the Oil and Gas Corporation of Georgia on Wednesday, an agreement between the Georgian Government and the consortium on the share distribution of production, extracted at the licensed blocks, was signed in May of 2013. The consortium won the right for works on the by results of an international tender, which was held by the Georgian Agency of Natural Resources on June 5, 2012.