Our operations are carried out by our 100%-owned subsidiary, Block Operating Company (BOC), equipped with subsurface, surface, engineering, financial, commercial and HSES expertise.
BOC gives us complete oversight over capital and operating expenditure, ensuring that operational timelines and schedules are met according to rigorous HSES and ESG standards.
It continues to expand its capabilities, operations to date including the acquisition of 77 km2 of 3D seismic, the drilling of six new wells and side-tracks, the completion of multiple workovers, the installation of production, treatment and sales infrastructure, and ongoing engagement with community and sustainability projects.
BOC has acquired an extensive inventory, including a newly upgraded A-80 heavy workover rig.
Safety and sustainability
Safety, sustainability and the wellbeing of nearby communities is of utmost importance to Block Energy.
BOC has been operating in Georgia since September 2019 with no serious Lost Time Incidents (LTIs) recorded.
The review of HSES management performance is always the first agenda point at Board meetings. We have a duty to ensure our people work in a safe environment. And it is vital for the efficient operations of the business. By taking the wellbeing of our people and local communities seriously, and protecting the environment, we are best placed to be able to attract and retain the best people and suppliers, and to limit the chance of our operations being delayed or postponed by injury or the influence of third parties.
BOC is embedded within everyday Georgian life through its partnership with Tbilisi Technical University and contribution to local infrastructure such as playgrounds and bus-stops.
Block Energy been accepted into the UN Global Compact Network, a global platform for businesses and other organisations to network and engage in human rights, labour, environment, and anti-corruption.
We continue to explore the potential of our assets to offer renewable sources of energy. We have undertaken studies into the possibility of introducing carbon sequestration technologies. We are also assessing the possibility of converting legacy oil wells across our fields into geothermal wells: the benign hot water produced from legacy wells could assist local vegetable farmers and tap an energy source for current and future operations.