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Elenilto has been awarded in an international competitive tender of the government of Georgia, the rights to operate and to develop the onshore oil and gas XI-H block.
The block is situated adjacent to the Jindal petroleum blocks with estimated recoverable reserve of 234 MMbbl of crude oil and 840 Bcf of gas, and Frontera's block with estimated resource of 700 Bcf of gas, and Blake Oil and Gas blocks with resources of 357 MMboe recoverable and potential to 2,151 MMboe.
Block XI-H, covering an area of 185 sq km, is located within the east Adjara-Trialeti thrust and fold belt. Geophysical and deep drilling data from the east Adjara-Trialeti indicate a thick sequence of Cretaceous, Tertiary and Quarterly sediments.
The block lies within the Tbilisi oil and gas bearing province. Geological studies and oil-prospecting activities in the greater Tbilisi oil and gas bearing province were conducted mainly in the last century. Regional as well as detailed geological mapping and geophysical field surveys (seismic, gravity, magnetic, and electric prospecting) have been conducted since the 1930s.