Georgia has sold its first crude on the world markets.
The pioneering consignment includes 16,000 tons of black gold produced under the joint project with Norwegian Canargo Energy and a field in eastern Georgia, the Kommersant reported.
Tbilisi claims Georgian crude oil is close to Brent, Reuters reported. The deal terms haven't been disclosed so far. Georgia produced roughly 63,000 tons of crude in 2006.
In addition to crude oil, Canargo Energy carries out natural gas exploration near Tbilisi, the Kumisi field, and the work is due to complete in July. Georgian government has entered into a gas contract with Canargo should any gas be found there. The price will be $55 per 1,000 cu meters.
Nowadays, Georgia gets gas from Russia ($235 per 1,000 cu meters) and Azerbaijan ($120 per 1,000 cu meters). -neftegaz.ru
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