Georgia extended for 5 years until 2017 the exploration phase of the production sharing agreement covering Block 12 in the Kura basin, said Frontera Resources Corp., Houston.
By OGJ editors HOUSTON, July 16 – Georgia extended for 5 years until 2017 the exploration phase of the production sharing agreement covering Block 12 in the Kura basin, said Frontera Resources Corp., Houston.
Frontera operates the 5,060 sq km block in the Kakheti region of eastern Georgia.
The company said the extension “provides the framework to continue to undertake the necessary programs to advance the inventory of oil and gas projects and associated significant prospectivity that these investments have identified.”
