Four PSA’s have been signed with Indian investment companies on oil and gas exploration and production works

15 January, 2009
GOGC signed four production sharing agreements on oil and gas exploration and production with Indian Investment Company.

The agreements were concluded with following investment companies - JINDAL PETROLEUM LTD and ENSEARCH PETROLEUM (GEORGIA) LTD. These are the companies that won the tender announced by the state to obtain the right for exploration works on VIIA; IX; X and XIIIA license blocks. The Government of Georgia was represented by the National Agency for Oil and Gas of the Ministry of Energy of Georgia, therefore the Head of the NAOG GiorgiTatishvili signed the agreement with SushilMaru, General Director of JINDAL PETROLEUM LTD and Mukesh Gupta, General Director of ENSEARCH PETROLEUM (GEORGIA) LTD.

Georgian state budget will get $17, 4 ml form investors as a signing bonus.

We are glad that we are Georgia’s partners from now, I am quite sure that our cooperation will last long, along with the rapid industrial development. The step we have taken today will create jobs and enhance economic growth in the country, as well as infrastructure development in the region, said Naveen Jindal.