Oil and gas exploration and production firm Frontera Resources has completed independent resource assessment reports for two projects in Georgia.
The company said an independent assessment, undertaken by Netherland, Sewell & Associates, has estimated up to 8.29 trillion cubic feet (TCF) of gas in place prospective resources at Mtsara Khevi, with about 6.15 TCF of recoverable prospective resources.
The drilling and workover programme at site along with the expansion of gas processing and sales transportation facilities is currently underway.
The Mtstare Khevi gas complex is an area of about 140kmÂ² and features gas reservoir targets identified between 300m and 5,000m in depth.
At Taribani, an independent assessment has estimated up to 4.62 TCF of gas in place prospective resources and 3.23 trillion cubic feet recoverable.
Work on the drilling programme at Taribani is also continuing and existing well workover/frac-recompletion campaign is advancing.
Situated within the Taribani field complex, the facility’s oil potential consists of 788 million barrels of original oil in place at depths between 2,000m and 3,300m.
Frontera Resources chairman and chief executive officer Steve Nicandros said: “As it has now been nearly one year since commencing gas production operations at the Mtsare Khevi Gas Complex, we are very focused to continue to expand and accelerate our efforts to bring this strategic resource to not only Georgia’s domestic market, but also to nearby regional markets in Turkey, the European Union and Eastern Europe.”