Prospects of oil extraction in Georgia

Some Georgian geologists insist that Georgia has the potential to produce its own oil. This could seriously improve the country’s economic situation and become a successful sector for improving the country’s income. Oil was extracted in Georgia in the 20th century.

The peak of Georgia’s oil extraction period was in the early 1980’s but after Georgia declared independence in 1991 the oil industry seriously declined. However, there are still active small enterprises extracting oil and gas.

Geologists suggest that by introducing new technology, Georgia can start producing more oil and gas. This will decrease the amount of imported fuel to Georgia, which will positively reflect on Georgian consumers and improve the economy.