Blake Oil & Gas and MND Group have formed a joint venture to fund development and appraisal activities on the Ninotsminda, Manavi and No-rio oil and gas assets in Georgia. MND will acquire a 50% interest in Blake's operating subsidiaries Ninotsminda Oil Co. Ltd., Canargo (Nazvrevi) Ltd. and Canargo Norio Ltd., and will fund a significant work program to accelerate the development of the currently producing Ninotsminda field as well as complete the appraisal of the substantial Manavi and Norio discoveries.
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