Block Energy Announces West Rustavi Update

Source: www.gulfoilandgas.com 2/8/2021, Location: Asia

Block Energy plc, the development and production company focused on Georgia, is pleased to provide an update regarding operations at its West Rustavi field.

Production from the WR-38Z and WR-16aZ wells (the "Wells") has recommenced. The Wells have been brought back online safely, with oil and gas flowing through Block's new in-field flowline to its Early Production Facility ("EPF"), which is located in the West Rustavi field at the WR-16aZ wellsite. In the EPF, gas is separated from the crude oil before entering the gas sales pipeline, which is owned by Bago LLC ("Bago"). Bago has carried out the final testing of its facilities using gas provided by Block and is now completing the final steps required to tie back into the main gas pipeline, which is owned by the Georgia Oil and Gas Corporation. Gas sales will commence within a day of the tie back being completed and Block will provide an update to the market once sales have begun.

Block Energy plc's Chief Executive Officer, Paul Haywood, said:

"I am pleased to announce recommencement of production from our West Rustavi field, with the expected revenue from both our oil and gas production providing a welcome boost to Block's cashflow position, further strengthened by the current higher oil price. Production from the Wells remains stable and consistent with the production rates achieved before they were shut-in in April 2020. We continue to make regular sales of our crude oil inventory to local buyers and I look forward to providing a further update about the commencement of gas sales to the market shortly."


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