In 2022, investments in the oil and gas sector of Georgia increased by 17%. As the Director of the Georgian Oil and Gas Agency Giorgi Tatishvili stated, the main part of the investments are distributed to various companies - last year, intensive works were carried out on drilling the new so-called side barrel wells.
"This is the method that is probably needed today for our deposits that are being processed and, the result, as we have already seen - a sharp increase in gas extraction by about 80% - appeared. The oil of the state share also increased by 20-22%", - Giorgi Tatishvili stated.
Despite the fact that the sector did not have new investors last year, the Oil and Gas Agency expects significant growth in various directions in 2023.
"The already approved budgets of 2023 allow the licensing companies to say that this year the number of investments will increase even more, and you hope that we will have an increase in the volume of the state share of oil and gas," - Giorgi Tatishvili said.
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