In 2024, oil production in Georgia increased, while natural gas extraction decreased. According to the Oil and Gas Corporation, 36.8 thousand tons of oil were produced in the country in 2024, which was 1,500 tons more than in 2023.
The state's share of the extracted oil was 14,200 tons. The corporation sells its share through auctions. As of the statistics, 2009 was an ordinary year in terms of oil production, when almost 60 thousand tons were extracted.
Between 2010-2013, an average of 50 thousand tons were extracted, and in subsequent years, extraction decreased relatively.
As for gas production - last year, 15.8 million cubic meters of gas were produced. The decrease is insignificant and amounted to 0.2 million cubic meters. The state's share of the produced gas was 5 million cubic meters. After 2020, the state receives 4-5 million cubic meters annually from local production.
According to the Ministry of Economy, 25 general and 8 activity licenses for the use of oil and gas resources were issued in 2024, to which 2 more licenses were added in 2025. In particular, the company West Galf Petroleum Engineering Company Ltd was announced as the winner of the X license block. X license block (4336 square kilometers) covers the sections of Tianeti, Sagarejo, Akhmeta, Telavi, Kvareli, Sighnaghi, Gurjaani and Lagodekhi.
The company “Hindustan Silichem Private Limited (HSPL)” was declared the winner of the VIIB license area, which was registered in India on July 1, 2017 and belongs to the Astron Zircon Group.
Georgia's VII B license block administratively belongs to the territories of Khelvachauri, Kobuleti, Ozurgeti, Chokhatauri and Lanchkhuti municipalities. The total area is 1175 km2.
