One of the main priorities of the country’s energy policy is the development of energy infrastructure and maximal development of country’s hydro power potential. Implementation of the above will significantly reduce the dependence on energy import and help to improve energy safety. Georgia, given its geopolitical location, can play significant part at a regional level through the construction of transmission lines with which we may not only reduce the dependence on energy carriers but become a power exporting country.

Number of activities aimed at achieving the above objectives were conducted in Georgian energy sector in 2009.

CanArgo Energy Corporation is a US oil and gas exploration and production company operating in Georgia.

CanArgo Energy Corporation was founded in the State of Delaware, after the merger of American Fountin Oil and Canadian CanArgo Energy Inc. Company current investors and  senior management expressed interest towards Georgia far earlier namely in 1992, by setting up a company and launching oil exploration works in the west Georgia. CanArgo stands for the abbreviation of the Canadian Argonauts.