Block Energy PLC
LSE:BLOE
Block Energy PLC
Block Energy Plc explores, develops, and produces oil and natural gas in the Republic of Georgia. The Company’s projects include Block IX, Block XI B, West Rustavi onshore oil and gas field, Norio onshore oil field and Satskhenisi onshore oil field. The block XIB in Georgia produces of approximately 180 MMbbls of oil from the Middle Eocene. Exploration block IX has 38 legacy wells with two drilled wells. West Rustavi project consist of wells that have oil and gas from multiple geological horizons. Norio project is 35 kilometres from the centre of Tbilisi, requiring low capex recompletions of existing wells and new horizontal wells, to existing production. Satskhenisi project produces circa six bopd, which consist of 27.8 MMbbls unrisked two contingent oil resources.
Block Energy Plc explores, develops, and produces oil and natural gas in the Republic of Georgia. The Company’s projects include Block IX, Block XI B, West Rustavi onshore oil and gas field, Norio onshore oil field and Satskhenisi onshore oil field. The block XIB in Georgia produces of approximately 180 MMbbls of oil from the Middle Eocene. Exploration block IX has 38 legacy wells with two drilled wells. West Rustavi project consist of wells that have oil and gas from multiple geological horizons. Norio project is 35 kilometres from the centre of Tbilisi, requiring low capex recompletions of existing wells and new horizontal wells, to existing production. Satskhenisi project produces circa six bopd, which consist of 27.8 MMbbls unrisked two contingent oil resources.
