GOGC Revenue Grows

GOGC Revenue Grows

In the first half of 2017, JSC Georgian Oil and Gas Corporation (GOGC) gained total revenue of 161 mln GEL, which was 68,8 mln GEL more than in the same period of previous year. According to 6-month unaudited financial data, incomes generated by the company also increased and amounted to 416 mln GEL. The incomes of Oil and Gas Corporation increased by 58%, compared to similar period of 2016.

Incomes generated from different sources are distributed as follows:

  • Sales of natural gas: 263 mln GEL
  • Incomes generated from power generation: 98 mln GEL
  • Incomes generated from gas pipelines: 40 mln GEL
  • Oil transportation cost: 9,8 mln GEL
  • Incomes generated from sales of crude oil: 4,9 mln GEL

Presently, 100% of stock of the Corporation is held by Partnership Fund, which in its turn is owned by the state.

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