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Georgian Oil and Gas Corporation reveals revenue volume

Oil&Gas Materials 13 July 2021 14:56 (UTC +04:00)
Georgian Oil and Gas Corporation reveals revenue volume

BAKU, Azerbaijan, July 13

Tamilla Mammadova – Trend:

Revenues of Georgian Oil and Gas Corporation (GOGC) amounted to 1 billion lari ($318.9 million) and net profits constituted 3.2 million lari ($1.02 million) in 2020, Trend reports via the GOGC.

The corporation revenues in 2020 totaled 997.2 million lari ($318 million), up 123.4 million lari ($39.3 million) compared to 2019.

The operational profits shrank from 17 million lari ($5.4 million) to 143.9 million lari ($45.8 million).

The corporation’s net profits shrank 37 times to 3.197 million lari ($1.01 million) from 120.1 million lari ($38.3 million).

GOGC’s incomes structure:

Gas sales – 585.09 million lari ($186.6 million);
Electricity generation and supply – 333.23 million lari ($106.2 million);
Crude oil sales – 9.4 million lari ($2.9 million);
Gas pipeline leasing – 43.06 million lari ($13.7 million);
Oil transportation – 26.3 million lari ($8.3 million);
Other incomes – 69.4 million lari ($22.1 million).

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