Georgian Oil and Gas Corporation Announced an Auction on the Sale of 23 000 Tons of Crude Oil

20 January, 2014
JSC Georgian Oil and Gas Corporation (GOGC) is announcing an auction on the sale of 23 000 tons of crude oil. All interested candidates are welcome to participate.

GOGC offers the potential buyer 18 000 tons of Georgian Light oil and 5000 tons of Georgian Heavy oil.

Interested bidders shall, in advance, deposit USD 50000 or equivalent in national currency of Georgia on the Corporation’s bank account.

Auction will be held by reducing the discount USD 9.3 per each barrel of oil by USD 0,2 per each new bid.

The interested bidder participating in the Auction, who offers the lowest discount for purchasing of one barrel of oil, will be nominated as the Auction Winner.

All interested bidders, not later than 15:00 pm, February 20, 2014 shall submit to the Corporation application stipulating acceptance of auction terms and willingness to participate.