Block Energy plc announced the start of gas sales from well KRT-39 in Block XIB in West Rustavi, Georgia. WELL KRT-39 The associated gas produced (currently 140,000 scf per day) from KRT-39 was being flared prior to the company’s acquisition of Block XIB. Gas sales began following the installation of two gas separators and the […]
Tag: West Rustavi Georgia
Block produces below average target levels at WR-B1a, West Rustavi
Block Energy plc announced that new well WR-B1a had produced below average target levels over the last eight days in West Rustavi, Georgia. FRACTURED RESERVOIRS Block has to date drilled three horizontal wells in naturally fractured reservoirs and acquired 3D seismic of the West Rustavi field. The company said that following the interim installation of […]
Block Energy Q3 production and revenue fall
Block Energy plc reported a decrease in production and revenue with restricted output from WR-B1a at the company’s project in West Rustavi, Georgia. OPERATIONS AND FINANCES In its operations report for the three months ended 30 September 2021, Block recorded production of 34.6 Mboe (Q2: 42.6 Mboe). Revenue for Q3 was $901,000 (Q2: $1,165,000), comprising […]
Block faces calls for forensic investigation
Block Energy plc said it had received a second letter from Forest Nominees Ltd to convene a further general meeting to consider an independent forensic investigation into the company’s affairs. Block said it regretted that the action had been during the middle of drilling a well and considered the requisition of a second general meeting […]
Block and Baker Hughes sign drill agreement for West Rustavi
Block Energy plc has signed a memorandum of understanding (MoU) with Baker Hughes to support its oil and gas drilling operations in Georgia. SIGNIFICANT The company said that the MoU provided a broader partnership on developing significant oil and gas opportunities throughout Block’s portfolio. Baker Hughes has allocated additional engineers to assess and potentially develop […]
Block remains strong with Rustaveli acquisition
Block Energy plc said it built its production and development base and maintained a strong financial position in 2020 due to its acquisition of 100% shares of Block Rustaveli Ltd in West Rustavi, Georgia. The acquisition, formerly Schlumberger Rustaveli Company Ltd, holds the PSCs to Blocks IX and XIB. FINANCIAL In its audited results for the year ended 31 […]