Frontera ups gas estimates for Georgian assets
TBILISI, October 9, 2015 – Frontera has upgraded its internal reserve estimates for its assets in eastern Georgia to 3.8 tcm (135 tcf), the exploration and production independent announced in a company statement Thursday.
These reserves are located in the South Kakheti Gas Complex found at a depth between 300 metres and 5,000 metres. This new figure is ten times a previous estimate given by US consulting firm Sewell & Associates, which reported South Kahketi contained 365 bcm (12.9 tcf) of gas in place with around 266 bcm (9.4 tcf) of recoverable resources.
Frontera has only started producing gas from its assets in April 2014 after installing 14-kilometre pipeline network of gathering, processing facilities. The company is considering its options to commercialise the gas and expand internationally into markets in Turkey and Europe.
“Our ongoing investments in Georgia have continued to reveal the emergence of what we believe to be a world class gas play with the identification of the South Kakheti Gas Complex,” Steve C. Nicandros, the chairman and CEO of Frontera, said in a statement on Thursday.
Image courtesy of Frontera
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