Exploration & Production

Block Energy and Bago sign MOU on proposed offtake agreement

Block Energy has signed an MOU with Georgian gas supplier Bago for a proposed offtake agreement for output from the West Rustavi permit
By Staff reporter 5 October 2018 0 32803

AIM-listed exploration and production company Block Energy has signed a memorandum of understanding (MOU) with Georgian gas supplier Bago for a proposed offtake agreement for output from the West Rustavi permit, Block said on Friday.

Under the MOU, Block will take a minimum of 1,000 cubic metres per day of gas. A final offtake agreement will be signed after the price has been negotiated, although this is expected to be in line with prices negotiated with neighbouring contractors, the company said.

Block currently holds...