The company Block Energy, which carries out oil and gas exploration and extraction on several licensed blocks in Georgia, announces an increase in production.
The company reported to investors on the London Stock Exchange that it produced 60,400 Mboe of oil and gas in April-June, including 48,500 barrels of oil and 11,900 barrels of oil-equivalent gas. It is noted that the production has increased by 1.6 times compared to the first quarter.
As for sales data, in the second quarter, Block Energy produced 36,000 barrels of oil worth $2.56 million and 50.3 million cubic meters worth $266,000.
Block Energy also plans to drill additional wells. To be reminded, the British oil company announced in December of last year that it had discovered new oil reserves near Patardzeuli.
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