GOGC Announced an Auction on the Sale of Crude Oil

10 February, 2015
JSC Georgian Oil and Gas Corporation (GOGC) is announcing an auction on the sale of 21 000 tons of Georgian Light and Georgian Heavy oil. All interested candidates are welcome to participate.

Interested bidders shall, in advance, deposit USD 50 000 or equivalent in national currency of Georgia on the Corporation’s bank account. Auction will be held by reducing the discount USD 8,9 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 March 12, 2015 shall submit to the Corporation application stipulating acceptance of auction terms and willingness to participate.