In order to expand over the long term, we lay down strong foundations.
We are constantly improving our operations in order to provide energy that lifts up society and economies all around the world, while also studying creative measures to promote global sustainability.
Key Figures
we trade in more than
around the world
we trade more than
barrels of crude oil and products daily
we generated 2021 revenue of
dollars (US)
we employ
around the world
About Corporation
Qassin Oil LTD is a diversified company with business activities in various segments of energy. It has the status of the National Oil Company and protects state interests in the Production Sharing Agreements signed with investors. Qassin Oil LTD as the owner of the main gas pipeline system of Georgia plays a major role in ensuring the energy security of the state. It contributes to unimpeded operation of transboundary oil and gas transportation systems on the territory of Georgia which significantly increases the security of the country’s, EU and international energy markets through their diversification, manages the transit revenues.
Due to Georgia’s advantageous geographic location, Qassin Oil LTD supports the creation of new transit routes in order to fully utilize the energy potential of the Caspian and Black Sea basins and to further Georgia’s integration into regional and international economic and political structures. Qassin Oil LTD diversifies its business ventures, emphasizes competitive strength in the context of a single, liberalized market, and implements cutting-edge management techniques and QC/QA standards.
Exploration
Qassin Oil LTD conducts exploration work to broaden the base of available resources. By using cutting-edge exploration techniques and choosing the most promising areas based on research findings, exploration activities have consistently produced positive results.
Oil Reserves
Development drilling, which accounts for more than 8% of the company’s oil and condensate production, is the primary production support driver. High-tech well construction is the main focus of Qassin Oil LTD; in 2019, 2.9 thousand.
Development Strategy
It is essential for Qassin Oil LTD to have a long-term strategic vision if it is to develop steadily and profitably. The primary axes of Qassin Oil LTD strategy should be investigated for this purpose, and a development strategy should be created for it.
Qassin Oil LTD’s Technical and Strategic Planning Departments continuously work to develop long-term projects that are implemented and introduced stage-by-stage, introduce new technologies, boost activity effectiveness, provide additional energy sources, achieve energy independence for the nation, and in other strategically important areas. Qassin Oil LTD continuously works to effectively manage the money received from oil and gas transit and implements sizeable investments in energy projects important for the nation with its own funds in order to carry out the aforementioned objectives. In terms of project funding, Qassin Oil LTD actively collaborates with international financial institutions.
Health and Safety
Our main objective is to lessen workplace accidents and injuries in order to protect employees, prevent health problems, lessen the impact of our operations on the environment, and enhance Qassin Oil LTD’s reputation and image in line with the company’s environmental, occupational health, and safety policy. We’re always working to improve our safety culture, the level of top management commitment to safety and health, the rights and capabilities of our employees (including giving them the power to stop work that they think is being done in a dangerous way), and our understanding of the root causes of accidents.
Our company’s occupational safety and health culture has undergone excellent change, and we’ve increased reporting transparency by more than 300 percent. The exchange of knowledge and information will be made possible by Qassin Oil LTD membership, which will be the next step in enhancing transparency.