Georgian Oil and Gas Corporation to sell up to 20 000 tons of oil

07 December, 2012
JSC Georgian Oil and Gas Corporation (GOGC) is announcing an auction on sale of up to 20 000 tons of Georgian Light and Georgian Heavy oil.

Interested Bidders shall, in advance, deposit USD 100 000 or its equivalent in national currency of Georgia using official exchange rate published by the National Bank of Georgia on the day of payment into the Corporation’s bank account.

Auction will proceed by reducing the discount set by the Corporation at USD 9,00 (nine) per each barrel and the bidder offering the lowest discount in comparison with others will be declared the winner.

Oil deliveries will be carried out in stages during the effective period of the General Contract signed between Corporation and the Auction Winner.

Auction will be held 4.00 pm, December 20, 2012 at the head office of Georgian Oil and Gas Corporation.