Frontera Resources Corporation has released a special statement saying that since 1997 the company has invested $ 580 million.
Frontera claims that the state has received tens of millions of dollars in taxes and employs hundreds of people.
The statement also said that the mandatory investment program of the contract between Georgia and Frontera amounted to US $ 18.5 million, but the company exceeded this obligation by about 30 times.
“Since 2013, the government has started harassment of the company, as problems have been created linked to the issuance of various types of operating permits and repeated attempts to revoke the license on oil and gas extraction.
In 2017, the State and the Georgian Oil and Gas Corporation launched an international arbitration dispute against Frontera, which significantly hampered the Company's operations and inflow of the planned investments in Georgia.
Nevertheless, the company hopes to continue implementing the multi-billion dollar oil and gas exploration project that will bring energy independence to Georgia and provide its people with greater material benefits.
It is a great honor for Frontera Resources Corporation to be part of Georgia's economic revival, "the statement reads.
See all the news
All
როგორ მოხვდა 17 წლის ანასტასია ლელაძე ჰარვარდში? - ანასტასია ლელაძე ქალების ნარატივში
"Literally the whole village was waiting for the first harvest of strawberry" - Kvitsiani family from Svaneti
Putin imposes visa restrictions on citizens from 'unfriendly' countries
BMG-ს მედია რუბრიკა: #პროფესიონალი - გიორგი მიქაია
Business Leaders Council by USAID and Georgian Business
ბინების ქირის ფასი 50%-მდე გაიზარდა
DriveWealth-G&T Cooperation
"Today we are all Ukrainians"- Zurab Pololikashvili
Tourism is the main bridge for building understanding - ZURAB POLOLIKASHVILI
FAQ’s and Analysis on Lari & FDI - Interview with Fady Asly
მინერალური და მტკნარი წყლის ფასები ქართულ ბაზარზე
China continues to push competitors out of the global walnut market
Moscow to Host First Meeting of Turkish & Armenian Special Envoys on Jan 14
Scientists Discover New Part of the Human Body
Turkey's Exports Soar by 33.7% to $21.5B in November
რა ხდება საკაბელო პროდუქციის ბაზარზე?
საქმის კურსი - 16.12.2021 - ღამის კოლაჟი
საქმის კურსი - 16.12.2021_17:40 / გადაცემა სრულად
#COVID19-ის ახალი შტამი: #ომიკრონი - რა სიმპტომები აქვს “ომიკრონს”?
#ForbesTalks: Interview with Oleg Ossinovski / ინტერვიუ ოლეგ ოსინოვსკისთან