Two jurisdictions
A platform for sustainable growth
Block Energy is pursuing defined routes to commercialisation in Georgia and Gabon.
Our Georgian assets serve Georgia’s thriving energy market, with ready access to European markets through international pipelines. Our interests in PSCs in the North Gabon basin offer low-cost entry to a mature hydrocarbon province with established operators, supportive fiscal terms, export routes and a long production history.
Highlights
Block sells oil to local buyers under Brent-linked contracts and gas under agreements linked to Georgian gas import prices. The company operates in a market with strong domestic demand, as Georgia imported 97.8% of its oil products and 99.7% of its natural gas in 2020.
Georgia offers excellent export infrastructure, including rail, road, port, oil, gas and electricity networks connecting to Europe. Block has operated in the country since 2017, building strong government and community relationships while pursuing a longer-term strategy to access major regional oil and gas pipelines and enhance realised prices and volumes.
97.8%
Georgia Oil Product Imports (2020)
99.7%
Georgia Natural Gas Imports (2020)
2017
Block's Entry into Georgia
~25%
Effective Tax Rate on XIF & XIB Licences
Gabon
Expanding into Gabon’s proven offshore basin
In April 2026 Block expanded beyond Georgia, taking a 76.5% indirect economic interest in the Ndjila and Mpari PSCs located offshore Gabon in the North Gabon basin, a mature hydrocarbon province with established operators, supportive fiscal terms, export routes and a long production history.
The transaction, supported by the State of Gabon, which holds a 10% stake, offers low-cost entry into assets with discovered oil and significant potential upside in a proven jurisdiction.
Gabon’s subsurface and surface potential has been further validated by recent investments by majors including Exxon, BP and Trafigura.
Highlights
The Ndjila and Mpari licences comprise two contiguous offshore Production Sharing Contracts in the North Gabon Basin, a proven hydrocarbon province with a long history of oil production. The assets benefit from established operators, supportive fiscal terms and access to export infrastructure.
The project is supported by the State of Gabon, which holds a 10% stake, aligning government and investor interests. The basin’s potential has been further validated by recent investments from major industry players including Exxon, BP and Trafigura.
2
Contiguous Offshore PSCs
10%
State of Gabon Stake
North Gabon Basin
Proven Hydrocarbon Province
Major Industry Backing
Exxon, BP & Trafigura Investments
Other projects
Gabon
Our entry into offshore Gabon marks a significant step in our growth strategy, adding discovered resources, exploration upside, and exposure to a mature hydrocarbon province
Project I
Project I combines established production, development potential, and innovative drilling techniques to generate cash flow, support future growth, and maximise value across the wider portfolio
Project II
Project II is focused on realising the substantial potential of the Patardzeuli-Samgori field, leveraging a large contingent resource base, proven production history, and attractive development opportunities
Project III
Project III is focused on developing a world-class gas resource with multi-trillion cubic feet potential, supported by strategic partnerships and significant long-term value creation opportunities
Project IV
Project IV targets significant exploration upside across multiple licences, supported by a strategic farm-out partnership and a fully funded programme designed to unlock substantial resource potential
Carbon Capture and Storage
Our CCS initiative has the potential to establish a major CO₂ storage hub in Georgia, supporting industrial decarbonisation and contributing to long-term net-zero objectives