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Block Energy says it is on cusp of inaugural gas sales

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Block Energy PLC (LON:BLOE) told investors it is now awaiting third-party progress necessary for ‘first gas’ at the West Rustavi field, in Georgia.

The company, in a stock market statement, said that it has completed all steps that under its control including the construction and commissioning of the Early Production Facility and gas gathering line.

Presently, the remaining key steps leading up to inaugural gas sales are all under the control of Bago LLC.  Bago needs to complete construction for the compressor station and the hook up to the main gas lines.

‘First gas’ is now expected in either late January or early February, the company added.

“We are on the cusp of our inaugural gas sales,” chief executive Paul Haywood said in a statement.

READ: Block Energy raises £5.28mln in placing

“The commencement of gas sales will be a significant event for Block and is testament to the capability of our team, who have continued to prioritise this project, despite some significant operational and travel challenges associated with COVID-19.”

Block, meanwhile, also highlighted that it is planning the restart of oil and gas production at its West Rustavi licence area.

Teams will be mobilised to the WR-16aZ and WR-38Z wells in the coming days, it highlighted.

At the same time, Block’s Drilling and G&G teams are finalising preparations for the planned 2021 drilling and workover programme.

“As well as the commencement of gas sales, we are pleased to be recommencing production and sales of crude oil at West Rustavi with the Brent oil price now over US$50 per barrel.” Haywood added.

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