Ukraine Donbass Coal Basin

Bulgaria Carpathian Balkan Basin

Georgian Basin

Georgian overview

Economic overview

  • Area - 69,700 km2
  • population - 4,6 million
  • GDP Growth rate – 5.9%
  • WTO member since June 2000

Gas & Oil Market

  • Over 80% of natural gas is imported from Azerbaijan at long term price of USD 180 per mcm
  • 20% of natural gas Georgia receives as payment for transportation of Russian gas to Armenia via its pipeline
  • Around 95% of all oil products are imported from Azerbaijan
  • Crude oil proved reserves – circa 35 mbbl

Investment Climate

  • Named the world’s №1 reformer in improving business environment by the World Bank
  • Ranked 16th  by WB on ease of doing business (compared to 37 in 2007)
  • Stable, simple, transparent & investor friendly Production Sharing Contracts

Oil production and oil products consumption in Georgia, mbbls

diagrams-georg-1

Fiscal and Other Terms

  • VAT - 18%
  • Personal Income Tax - 20%
  • Profit Tax - 15%
  • Property Tax - 1%
  • Royalty - 0

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