GEORGIAN OIL AND GAS CORPORATION JSC. ss,,saqartvelos navtobisa da gazis korporacia AUCTION ANNOUNCEMENT. gancxadeba auqcionis Catarebis Sesaxeb

Transcript

1 ss,,saqartvelos navtobisa da gazis korporacia gancxadeba auqcionis Catarebis Sesaxeb GEORGIAN OIL AND GAS CORPORATION JSC AUCTION ANNOUNCEMENT 1 auqcionis sagani: 1 Subject ss,,saqartvelos navtobisa da gazis korporacia (SemdgomSi: korporacia ) acxadebs auqcions 7000 (Svidi atasi) tonamde nedli navtobis gayidvastan dakavsirebit, saidanac Georgian Light tipis savaraudo moculoba Seadgena 4500 tonas, xolo Georgian Heavy tipis savaraudo moculoba Seadgens 2500 tonas. da auqcionsi monawileobis misarebad iwvevs yvela dainteresebul pirs. GEORGIAN OIL AND GAS CORPORATION JSC (hereinafter Corporation ) is announcing an Auction for sale of up to 7000 (seven thousand) tons of Crude Oil, out of which estimated amount of Georgian Light type oil is up to 4500 tons and estimated amount of Georgian Heavy type oil is up to 2500 tons. All interested candidates are welcome to participate in the Auction. 2 sarealizacio qonebis dasaxeleba: 2 Description of Goods 2.1 korporacia potenciur myidvels stavazobs navtobs Semdegi xarisxis macveneblebit: 2.1 GEORGIAN OIL AND GAS CORPORATION JSC offers the potential buyer crude oil with the following quality: Georgian Light: Georgian Light: simkvrive: 20 0 C ze - 0,810-0,845 gr/sm 3; Density: gm/cm 3 at 20 C o gogirdis maqsimaluri woniti Semcveloba: 0,3%; Sulphur content: max 0.3% wylis maqsimaluri woniti Semcveloba: 1%. Water content: max 1% Georgian Heavy: Georgian Heavy: simkvrive: 20 0 C ze - 0,8451-0,925 gr/sm 3; Density: gm/cm 3 at 20 C o gogirdis maqsimaluri woniti Semcveloba: 0,6%; Sulphur content: max 0.6% wylis maqsimaluri woniti Semcveloba: 3.5%. Water content: max 3.5% 1

2 3 miwodebis pirobebi: 3 Terms of Delivery 3.1 EXW (Incoterms 2010) pirobit 3.1. Under EXW (INCOTERMS 2010) terms Georgian Light tipis navtobis miwodeba ganxorcieldeba gardabnis raionis sofel sartiwalasi mdebare ss,,saqartvelos navtobisa da gazis korporaciis~ navtobis pirveladi damusavebis samsaxuris teritoriaze arsebul navtobis Semkreb punqtsi (stacionaluri obieqtis saregistracio nomeri ) EXW (INCOTERMS 2010) pirobit (CatvirTva,,myidvelis~ mier mowodebul avto-cisternebsi) Georgian Heavy tipis navtobis miwodeba ganxorcieldeba: gardabnis raionis sofel gamarjvebasi mdebare (TeleTis #1 sarewi) navtobis Semkreb punqtsi (stacionaluri obieqtis saregistracio nomeri ) EXW (INCOTERMS 2010) pirobit (CatvirTva myidvelis mier mowodebul avto-cisternebsi) lancxutis raionis sofel sufsasi mdebare sarkinigzo CixSi arsebul navtobis Semkreb punqtsi (stacionaluri obieqtis saregistracio nomeri ) EXW (INCOTERMS 2010) pirobit (CatvirTva,,myidvelis~ mier mowodebul avto-cisternebsi an/da vagoncisternebsi) gardabnis raionis sofel noriosi arsebuli navtobis Semkreb punqtsi (stacionaluri obieqtis saregistracio nomeri ) EXW (INCOTERMS 2010) pirobit (CatvirTva,,myidvelis~ mier mowodebul avtocisternebsi) qalaq dedofliswyaros sarkinigzo CixSi arsebul navtobis Semkreb punqtsi (stacionaluri obieqtis saregistracio nomeri ) EXW (INCOTERMS 2010) pirobit (CatvirTva,,myidvelis~ mier mowodebul avto-cisternebsi an/da vagon Georgian Light type oil will be delivered as follows: under EXW (INCOTERMS 2010) terms, on the oil-gathering facility located on the territory of the Primary Oil Treatment Unit of JSC "Georgian Oil and Gas Corporation" in village Sartichala, Gardabani region (stationary object registration number ) (to be loaded in oil tank cars supplied by the Buyer); Georgian Heavy type oil will be delivered: under EXW (INCOTERMS 2010) terms, on the oil-gathering facility located in village Gamarjveba, Gardabani region (Teleti oilfield No. 1) (stationary object registration number ) to be loaded in oil tank cars supplied by the Buyer); under EXW (INCOTERMS 2010) terms, in the railway terminal located in village Supsa, Lanchkhuti region (stationary object registration number ) (to be loaded in oil tank cars and/or oil tank wagons supplied by the Buyer); under EXW (INCOTERMS 2010) terms, on the oil-gathering facility located in village Norio, Gardabani region (stationary object registration number ) (to be loaded in oil tank cars supplied by the Buyer); under EXW (INCOTERMS 2010) terms, at Dedoplistskaro railway station terminal (stationary object registration number ) (to be loaded in oil tank cars and/or oil tank wagons supplied by the Buyer). 2

3 cisternebsi). 3.2 FCA (Incoterms 2010) pirobit Georgian Light tipis navtobis miwodeba ganxorcieldeba FCA (INCOTERMS 2010) pirobit sofel vazianis rkinigzis sadguris CixSi (obieqtis stacionaruli danisnulebis kodi CatvirTva myidvelis kutvnil vagon-cisternebsi); Georgian Heavy tipis navtobis miwodeba ganxorcieldeba: FCA (INCOTERMS 2010) pirobit sofel vazianis rkinigzis sadguris CixSi (obieqtis stacionaruli danisnulebis kodi , CatvirTva myidvelis kutvnil vagon-cisternebsi); FCA (INCOTERMS 2010) pirobit sofel sufsis rkinigzis sadguris CixSi (obieqtis stacionaruli danisnulebis kodi , CatvirTva myidvelis kutvnil vagon-cisternebsi); FCA (INCOTERMS 2010) pirobit qalaq dedofliswyaros rkinigzis sadguris CixSi (obieqtis stacionaruli danisnulebis kodi , CatvirTva myidvelis kutvnil vagon-cisternebsi) navtobis miwodeba daiwyeba xelsekrulebis gaformebidan araumetes 30 kalendarul dresi xelsekrulebis moqmedebis periodi ganisazrvreba xelmoweris dridan 6 Tvis ganmavlobasi navtobis miwodebis detaluri pirobebi ganisazrvreba xelsekrulebit (SemdgomSi: xelsekruleba ). xelsekruleba warmoadgens am gancxadebis ganuyofel nawils, romlis pirobebtan Tanxmobas auqcionsi monawileobis msurveli piri adasturebs ganacxadis wardgenit. auqcionsi gamarjvebuli valdebulia xelsekruleba gaaformos korporaciis mier gansazrvruli, an mastan arsebitad identuri pirobebit Under FCA (INCOTERMS 2010) terms Georgian Light type oil will be delivered: under FCA (INCOTERMS 2010) terms, at Vaziani railway station terminal (terminal code: , to be loaded into the Buyer s oil tank wagons) Georgian Heavy type oil will be delivered: under FCA (INCOTERMS 2010) terms, at Vaziani railway station terminal (terminal code: , to be loaded into the Buyer s oil tank wagons); under FCA (INCOTERMS 2010) terms, at Supsa railway station terminal (terminal code: , to be loaded into the Buyer s oil tank wagons); under FCA (INCOTERMS 2010) terms, at Dedoplistskaro railway station terminal (terminal code: , to be loaded into the Buyer s oil tank wagons). 3.3 Oil deliveries will start within 30 calendar days after execution of the Contract. 3.4 The Contract shall be in force within 6 months from the date of signature. 3.5 Detailed terms and conditions of oil deliveries will be defined by the Contract (hereafter Contract ). The Contract represents an integral part of this Announcement and the Auction Winner consents to its terms and conditions by submitting the application. The Auction Winner is obliged to sign the Contract under the terms and conditions defined by Corporation or under the terms and conditions materially identical to those defined by Corporation. 3

4 4 auqcionsi monawileobis pirobebi: 4 Participation Terms 4.1 auqcionsi monawileobis msurveli valdebulia korporaciis sabanko angarisze winaswar Caricxos (ormocdaati atasi) ass dolari an am Tanxis eqvivalenturi odenoba larebsi Caricxvis dres erovnuli bankis mier dadgenili kursis Sesabamisad an korporacias warudginos zemot xsenebul Tanxaze sabanko dawesebulebis mier gacemuli gamoutxovadi da upirobo sabanko garantia, kontrgarantia an akreditivi, romelic ZalaSi unda iyos auqcionis Catarebis dridan 90 kalendaruli dris ganmavlobasi da romelic gamoyenebuli iqneba am gancxadebis me-8 punqtit dadgenili wesit (SemdgomSi Caricxuli Tanxa, sabanko garantia, kontrgarantia da akreditivi moxseniebuli iqneba rogorc gadasaxdeli ). sabanko garantia, kontrgarantia an akreditivi, gacemuli unda iqnas sabanko dawesebulebis mier da massi beneficiarad mititebuli unda iqnas ss saqartvelos navtobis da gazis korporacia. garantiis gamcem saqartvelosi araregistrirebul banks reitingi unda hqondes minimum A Fitch an sxva saertasoriso saagentos mier miniwebuli eqvivalenturi reitingi, rac avizebuli unda iqnas ss saqartvelos bankis an ss Tibisi bankis mier. winaarmdeg SemTxvevaSi garantia damowmebuli unda iqnas ss saqartvelos bankis an ss Tibisi bankis mier. saqartvelosi daregistrirebul kompaniebs SeuZliaT warmoadginon saqartvelosi moqmedi sabanko dawesebulebis mier gacemuli gamoutxovadi da upirobo sabanko garantia. 4.1 Interested bidders shall, in advance, deposit USD (fifty thousand) or equivalent in national currency of Georgia using official exchange rate published by the National Bank of Georgia on the day deposit is made) on the Corporation s bank account or submit to Corporation an irrevocable and unconditional bank guarantee, counter-guarantee or LC issued for the above amount by the banking institution, which shall be valid during 90 calendar days from the date of the Auction and shall be used according to the provisions of paragraph 8 of this Announcement (hereinafter, the deposit, bank guarantee, counter-guarantee and LC referred to as the Fee). The bank guarantee, counter-guarantee or LC shall be issued by a banking institution and JSC "Georgian Oil and Gas Corporation" shall be specified as the Beneficiary in it. The guarantee issuing bank (not registered in Georgia) should have the rate at the minimum A of Fitch Rating or other equivalent international rating agency, which shall be notified by JSC Bank of Georgia or JSC TBC Bank. Otherwise the guarantee should be certified by the JSC Bank of Georgia or JSC TBC Bank. The companies registered in Georgia may submit an irrevocable and unconditional bank guarantee issued by a banking institution operating in Georgia. 4.2 erti neto bareli `nedli navtobis~ saboloo 4.2 The final price for one netto barrel of crude oil will be calculated in 4

5 Rirebuleba gamoiangariseba ass dolarsi da daangarisdeba Semdegnairad: xelsekrulebis xelmoweris dres da mis momdevno or dres McGraw Hill Financial, Inc. -is gamocemasi gamoqveynebuli Urals CIF Med - Georgian Heavy nedli navtobisatvis da Dated Brent Georgian Light nedli navtobistvis driuri sasualo fasebis sasualo aritmetikul mnisvnelobas gamoklebuli auqcionit dadgenili diskaunti (fasdakleba). Tu xelsekrulebis xelmoweris dres an mis momdevno ori dridan romelime dres ar moxda nedli navtobis Sesabamisi saxeobisatvis driuri sasualo fasebis sasualo aritmetikuli fasis dadgena (SemdgomSi: kotireba ), masin erti neto bareli `nedli navtobis~ saboloo Rirebulebis gamoangariseba moxdeba xelsekrulebis xelmoweris dres da mis momdevno dreebsi gamoqveynebuli sami kotirebis Sesabamisad. 4.3 auqcionis monawileebs Soris vawroba gaimarteba korporaciis mier warmodgenili diskauntis 6.50 (eqvsi mteli xuti meatedi) ass dolaris mimart (fasdakleba ert barel navtobze) savawro 0,2 (noli mteli ori meatedi) ass dolaris bijit SemcirebiT punqtit gansazrvruli miwodebis pirobis SemTxvevaSi (rac ganpirobebulia imit, rom arnisnuli rejimis SemTxvevaSi gamyidvels mouwevs damatebiti xarjebis gareba) auqcionze vawrobis Sedegad dafiqsirebul diskaunts gamoakldeba 0.49 ass dolari fasdakleba ert barel navtobze, Sesabamisad, mirebuli odenoba iqneba erti bareli navtobis gasayidi fasi. 4.4 auqcionsi monawileobis msurveli valdebulia auqcionsi monawileobis ganacxadis Setanamde SeiZinos auqcionsi monawileobis bileti, romlis Rirebuleba Seadgens 50 (ormocdaat) lars. biletis Rirebuleba auqcionsi monawileobis msurvel pirebs ar USD and will equal the arithmetic mean of daily average prices nominated for Urals CIF Med - Georgian Heavy Crude Oil and for Dated Brent -Georgian Light Crude Oil in "McGraw Hill Financial, Inc." on the date of signing of the Contract and during next two days, less the discount set by the Auction. If arithmetic average price of daily average prices for respective type of Crude Oil is not established (hereafter Quotation") on the day of signature of the " Contract" or on any of the two next days, the final price of one netto barrel of Crude Oil shall be calculated in accordance with the three quotations published on the day of signature of the "Contract" and on the following days. 4.3 The auction will proceed by reducing the discount USD 6.50 (six point five) per each barrel of oil by USD 0.2 (zero point two) decrement per each new bid. In case of delivery term defined by paragraph 3.2 (which is preconditioned by the fact that in case of the above regime the Seller will have to incur additional expenses), 0.49 USD discount per one barrel of oil shall be deducted from the discount fixed as a result of bidding and accordingly, the obtained amount shall be the selling price of one barrel of oil. 4.4 Prior to submission of application for the auction, interested bidders shall buy the auction participation pass at the price of GEL 50 (fifty Lari). The cost of the participation pass will not be refunded to interested bidders unless the Auction is cancelled by Corporation. 5

6 daubrundeba, garda im SemTxvevebisa, rodesac auqcioni ar Sedgeba korporaciis mizezit. 4.5 xelsekrulebis xelmowera unda moxdes auqcionsi gamarjvebuli piris gamocxadebidan araugvianes 5 (xuti) samusao drisa. 4.6 avto-cisternebis an/da vagon-cisternebis adgilze momsaxurebis, usafrtxoebis uzrunvelyofis da mocdenis xarji, garda gamyidvelis mizezit gamowveuli mocdenisa, ekisreba navtobis myidvels muxlit gatvaliswinebuli miwodebis pirobis SemTxvevaSi angarissworebis dros navtobis saboloo Rirebulebas daemateba drg, xolo angarissworeba ganxorcieldeba larsi, erovnuli bankis mier dadgenili kursit xelsekrulebit gatvaliswinebuli pirobebis Sesabamisad. 4.5 The Contract is to be signed within 5 (five) business days after the day the Auction Winner is nominated. 4.6 The costs associated with on-site service, operation, safety and all fees associated with oil tank cars and/or oil tank wagons demurrage are to be covered by the Buyer, unless such demurrage is caused by the Seller. 4.7 In case of delivery term stipulated by Article 3.1, VAT shall be added to the final price of oil during payment. Payment shall be made in GEL, according to the exchange rate established by the National Bank of Georgia in accordance with the terms and conditions of the Contract. 5 gamarjvebulis gamovlenis kriteriumebi: 5 The Auction Winner Selection Criteria 5.1 auqcionsi gamarjvebulad gamocxaddeba auqcionsi monawile, romelic erti bareli navtobis yidvisatvis korporacias SesTavazebs sxva monawileebtan SedarebiT nakleb diskaunts. 5.2 auqcionsi monawile, romelic pirveli daiwyebs vawrobas swevs Tavis dafas, rac nisnavs sawyisi fasis bijit Semcirebas. analogiuri wesi (vawrobis dros ukanasknelad dafiqsirebuli fasis bijit Semcireba) moqmedebs auqcionsi monawileebis mier dafis Semdgomi awevis SemTxvevaSi. 5.1 The Bidder (Auction Participant) who offers the lowest discount for purchasing of one barrel of oil, will be nominated as the Auction Winner. 5.2 The Bidder who is the first to start the bidding, shall raise his board, which means reduction of the initial price by one step. The same procedure (reduction of the last recorded price by one step during the bidding) is applied in case of next raising of the board by the auction participants. 6 ganacxadis warmodgenis da auqcionis Catarebis vadebi 6 Time-frame for Submission of Application and Terms of the Auction 6

7 6.1 auqcionsi monawileobis msurvelma ganacxadi auqcionis pirobebze Tanxmobis da monawileobis Taobaze (am gancxadebasi sxvagan moxseniebuli rogorc ganacxadi ) korporaciasi unda warmoadginos 2016 wlis 12 seqtembers saatamde. ganacxads unda daertos am gancxadebis me-7 muxlsi mititebuli informacia/dokumentacia. auqcionsi monawileobis msurvelma ganacxadis wardgenastan ertad werilobit unda daafiqsiros sakutari gadawyvetileba mistvis sasurvel miwodebis rejimtan dakavsirebit. auqcionsi gamarjvebulze nedli navtobis miwodeba moxdeba mis mier ganacxadis wardgenis dros dafiqsirebuli rejimis mixedvit. 6.2 ganacxadi warmodgenili unda iqnas ss saqartvelos navtobisa da gazis korporaciis satao ofissi Semdeg misamartze: saqartvelo, q. Tbilisi, s/i 0190, kaxetis gzatkecili #21, tel: +995A(32) auqcioni Catardeba 2016 wlis 12 seqtembers saatze, korporaciis administraciul SenobaSi (q. Tbilisi, kaxetis gzatkecili #21). 6.4 auqcionsi monawile subieqtis warmomadgeneli valdebulia warmoadginos piradobis damadasturebeli sabuti. piradobis damadasturebeli sabutis arqona CaiTvleba auqcionze gamoucxadeblobad. 7. sxva dokumentebi da informacia, romelic warmodgenili unda iqnas ganacxadtan ertad: 7.1 Sesabamisi sabanko dawesebulebis mier gacemuli gadasaxdelis gadaxdis damadasturebeli sabuti, romelsic sxva monacemebtan ertad mititebuli unda iqnas gadaricxuli Tanxa, gadamxdeli (gadamxdelis dasaxeleba da rekvizitebi unda emtxvevodes ganacxadis Semomtanis dasaxelebas da rekvizitebs) da 6.1 All interested Bidders, not later than 2.00 pm, September 12, 2016 shall submit to the Corporation application stipulating acceptance of the terms and conditions of the auction and willingness to participate (hereafter Application ). Information/documents specified in Clause 7 of this Announcement shall be included with to the Application. The interested bidder must specify its decision in connection with the desirable delivery regime together with submission of the application. The crude oil will be delivered to the auction winner according to the regime specified by it when submitting the application. 6.2 Applications shall be submitted to the head office of Georgian Oil and Gas Corporation JSC at the following address: 21 Kakheti Highway, 0190 Tbilisi, Georgia Tel: +995 (32) Auction will be held at 3.00 pm. September 12, 2016 at Georgian Oil and Gas Corporation Head Office (21 Kakheti Highway, Tbilisi). 6.4 Interested Bidders shall present personal identification document. Person failing to present personal identification document will not be admitted to the Auction. 7. Documents and Information to be Submitted by the Interested Bidder along with the Application: 7.1 Proof of payment of the Fee, issued by a relevant banking institution, specifying the transferred amount, the payer (name and details of the payer shall correspond to the name and details of the interested bidder) and purpose of payment, in addition to other data; or the bank guarantee, counter-guarantee or documentation related to LC 7

8 gadaxdis miznobrioba, an am gancxadebis 4.1 muxlit dadgenili sabanko garantia, kontrgarantia an akreditivtan dakavsirebuli dokumentacia. 7.2 Sesabamisi sabanko dawesebulebis mier gacemuli monawileobis biletis Rirebulebis gadaxdis damadasturebeli sabuti, romelsic sxva monacemebtan ertad mititebuli unda iqnas gadaricxuli Tanxa da gadaxdis miznobrioba; 7.3 amonaweri samewarmeo reestridan. Tu auqcionsi monawile ar aris saqartvelos rezidenti, warmodgenili unda iqnes samewarmeo reestridan amonaweris eqvivalenturi sabuti an werili/sertifikati ararezidentis samartlebrivi da finansuri mdgomareobis Sesaxeb (Letter/Certificate of Good Standing), gacemuli dafuznebis qveynis uflebamosili organos mier, romelsic sxva monacemebtan ertad mititebuli unda iqnas ararezidentis direqtorebi da warmomadgenlobaze uflebamosili sxva pirebi. ararezidentis mier warmodgenili dokumentebi damowmebuli unda iyos apostilit an legalizebuli sazrvargaret gacemuli sabutebisatvis saqartvelos kanonmdeblobit dadgenili wesis Sesabamisad, amastan dasasvebia apostilirebuli dokumentis saqartvelosi notariulad damowmebuli aslis warmodgena. 7.4 Tu auqcionze Sesabamisi iuridiuli piris warmomadgenelia sxva piri, direqtoris an wesdebit da dafuznebis qveynis kanonmdeblobit mindobilobis garese warmomadgenlobaze uflebamosili sxva piris garda, unda iqnas warmodgenili notariulad damowmebuli mindobiloba, romelic adasturebs piris uflebamosilebas imoqmedos auqcionsi monawilis saxelit. Tu auqcionsi monawile ar aris saqartvelos rezidenti da mindobilobis notariulad damowmeba ar xdeba saqartvelosi, masin mindobiloba damowmebuli unda iyos apostilit an legalizebuli sazrvargaret stipulated in paragraph 4.1 of this Announcement. 7.2 Proof of payment for Auction participation pass, issued by a relevant banking institution, detailing the purpose of payment and transferred amount; 7.3 Excerpt from Entrepreneurial Register. If the interested bidder is not a resident of Georgia, a document equivalent to Excerpt from Entrepreneurial Register or Letter/Certificate of Good Standing, issued by the authorized body of the country of incorporation, shall be submitted. Such document shall indicate directors and other persons authorized to represent the non-resident interested bidder in the Auction. Documents submitted by a non-resident bidder must be certified by an apostille or legalized in accordance with the procedure established under the current legislation of Georgia for documents issued abroad. It is also allowed to submit a copy of the apostilled document notarized in Georgia. 7.4 Notarized Letter of Attorney certifying the authority of the person to represent the interested bidder in the Auction, if the relevant legal entity is represented at the Auction by other person, except the Director or other person authorized for representation without Letter of Attorney under the Charter and legislation of the country of origin. If the Bidder is not a resident of Georgia and the Letter of Attorney is not notarized in Georgia, then Letter of Attorney shall come with an apostille or has to be legalized in accordance with the procedure established under the current legislation of Georgia for documents issued abroad. It is allowed to submit a copy of the apostilled 8

9 gacemuli sabutebisatvis moqmedi kanonmdeblobit dadgenili wesis Sesabamisad. dasasvebia apostilirebuli dokumentis saqartvelosi notariulad damowmebuli aslis warmodgena. mindobilobasi unda mietitos warmomadgeneli piris piradobis mowmobis an sapasporto monacemebi. 7.5 auqcionsi monawiles rekvizitebi: dasaxeleba, sakontaqto misamarti, saidentifikacio kodi, telefonis an/da faqsis nomeri, sabanko rekvizitebi. document notarized in Georgia. Letter of Attorney shall include personal ID card or passport details of the person representing the interested bidder. 7.5 Interested bidder information: name, contact address, identification code, telephone and/or fax numbers, bank account details. 8 gadaxdis pirobebi: 8 Terms of Payment 8.1 auqcionsi gamarjvebuli valdebulia navtobis miwodebis dawyebamde winaswar gadaixados saavanso Tanxa, misawodebeli navtobis Rirebulebis 110 (asati) procentis odenobit. navtobis amgvari Rirebuleba gamoitvleba xelsekrulebis gaformebis drisatvis McGraw Hill Financial, Inc. -is gamocemasi gamoqveynebuli Urals CIF Med - Georgian Heavy nedli navtobisatvis da Dated Brent - Georgian Light nedli navtobistvis gamoqveynebuli maqsimaluri fasis (diskauntis gatvaliswinebit, anu maqsimalur fass gamoklebuli diskauntis odenoba) gamravlebit misawodebeli navtobis barelebis savaraudo raodenobis 110 (asati) procentze, rasac 3.1 punqtit gansazrvruli miwodebis pirobis SemTxvevaSi aseve daemateba drg. saavanso Tanxis gadaxdis nacvlad myidvels eqneba uflebamosileba korporacias warudginos arnisnuli saavanso Tanxis odenobis sabanko dawesebulebis mier gacemuli gamoutxovadi da upirobo sabanko garantia, kontrgarantia an akreditivi, romelic gacemuli unda iqnas sabanko dawesebulebis mier da massi beneficiarad mititebuli unda iqnas ss saqartvelos navtobis da gazis korporacia. garantiis gamcem saqartvelosi araregistrirebul banks reitingi unda 8.1 The Auction Winner shall pay the Corporation the advance amount in advance, on the amount equal to 110 (one hundred ten) percent of the price of oil to be delivered. Such price is calculated by multiplying 110 (one hundred ten) percent of the estimated number of barrels to be delivered and the highest price nominated for Urals CIF Med - Georgian Heavy Crude Oil and Dated Brent Georgian Light Crude Oil in "McGraw Hill Financial, Inc." by the day of execution of the Contract (considering the discount, i.e. the highest price less the amount of discount) plus VAT in case of delivery term stipulated by Article 3.1. Instead of payment of the advance amount the Buyer shall be entitled to submit to the Corporation an irrevocable and unconditional bank guarantee, counter-guarantee or LC for the above advance amount which shall be issued by a banking institution and JSC "Georgian Oil and Gas Corporation" shall be specified as the Beneficiary in it. The guarantee issuing bank (not registered in Georgia) should have the rate at the minimum A of Fitch Rating or other equivalent international rating agency, which shall be notified by JSC Bank of Georgia or JSC TBC Bank. Otherwise the guarantee should be certified by the JSC Bank of Georgia or JSC TBC Bank. The companies registered in Georgia may submit an irrevocable and unconditional bank guarantee issued by a banking institution 9

10 hqondes minimum A Fitch an sxva saertasoriso saagentos mier miniwebuli eqvivalenturi reitingi, rac avizebuli unda iqnas ss saqartvelos bankis an ss Tibisi bankis mier. winaarmdeg SemTxvevaSi garantia damowmebuli unda iqnas ss saqartvelos bankis an ss Tibisi bankis mier. saqartvelosi daregistrirebul kompaniebs SeuZliaT warmoadginon saqartvelosi moqmedi sabanko dawesebulebis mier gacemuli gamoutxovadi da upirobo sabanko garantia. 8.2 pirs, romelmac auqcionsi monawileobisatvis gadaixada gadasaxdeli, garda auqcionsi gamarjvebulisa, gadasaxdeli, Sesabamisi werilobiti motxovnis safuzvelze, daubrundeba korporaciasi Sesabamisi motxovnis wardgenidan 3 (sami) sabanko dris ganmavlobasi. gadasaxdeli ar daubrundeba im pirs, romelmac warmoadgina auqcionsi monawileobis misarebad aucilebeli sabutebi, magram ar gamocxadda saauqciono vawrobasi monawileobis misarebad, an kidev gamocxadda auqcionze, magram monawileoba ar miiro saauqciono vawrobasi, ris gamoc auqcioni arsemdgarad gamocxadda. gadasaxdeli ar daubrundeba auqcionsi gamarjvebuls aseve im SemTxvevaSi, Tu is korporaciastan auqcionis Catarebidan, am gancxadebis 4.5 punqtit gatvaliswinebul vadebsi ar gaaformebs xelsekrulebas. 8.3 auqcionsi gamarjvebuli monawilis gadasaxdeli gamoyenebuli iqneba pirgasamtexlos saxit, xelsekrulebis gaformebis valdebulebis darrvevis SemTxvevaSi. 8.4,,myidveli~ uflebamosilia gadasaxdeli (rogorc sabanko garantiis, kontrgarantiis an akreditivis warmodgenis, aseve korporaciis angarisze Tanxis akumulirebis/deponirebis SemTxvevaSi) gamoiyenos misawodebeli sasaqonlo navtobis safasuris angarissi, aseve xelsekrulebi Sesrulebis uzrunvelyofis garantiastan dakavsirebul operating in Georgia. 8.2 Upon receipt of a written notice, Corporation, within 3 (three) banking days after submission of the respective request to the Corporation, will return the Fee back to all Auction Participants, except for the Auction Winner. The Fee shall not be returned to the interested bidders who submitted relevant documentation, but did not show up to participate in the auction, or showed up, but did not participate in it, resulting in declaration of the Auction void. The Fee shall not be returned to the Auction Winner in case the Auction Winner fails to execute the Contract with the Corporation within the terms specified by paragraph 4.5 of this Announcement, after holding the Auction. 8.3 The Fee will be retained by Corporation as a penalty in case the Auction Winner breaches the obligation to execute the Contract. 8.4 The Buyer shall be authorized to use the Fee (in case of submission of bank guarantee, counter-guarantee or LC, as well as accumulation/deposition of the amount into the account of the Corporation) as offset against the cost of oil to be delivered as well as for performance of the obligation related to Performance Guarantee. 10

11 valdebulebis Sesasruleblad. 8.5 gadasaxdeltan, aseve xelsekrulebit dadgenili sxva sabanko garantiis, kontrgarantiis an akreditivis wardgenastan dakavsirebul yvela xarjs, mat Soris sabanko garantiis avizebasa da damowmebastan dakavsirebul yvela xarjs, Sesabamisad gairebs auqcionsi monawile da auqcionsi gamarjvebuli. 8.5 All costs and expenses associated with provision of Fee, and other bank guarantee, counter guarantee or LC stipulated by the Contract, including bank guarantee notification and confirmation costs and expenses, shall be borne by the Auction Participant and the Auction Winner respectively. 9 sxva pirobebi: 9 Miscellaneous: 9.1 auqcionis gancxadeba Sedgenilia qartul da inglisur enebze. qartul da inglisur versiebs Soris winaarmdegobis SemTxvevaSi upiratesoba eniweba auqcionis gancxadebis qartul versias. 9.2 auqcionis Catarebis Sesaxeb winamdebare gancxadebis pirobebit dainteresebul pirebs informaciis mireba SeuZliaT aseve korporaciis internet gverdze xelsekrulebis proeqtis gasacnobad da auqciontan dakavsirebit informaciis/konsultaciis misarebad dainteresebul pirebs 2016 wlis 12 seqtembers 14 saatamde SeuZliaT mimarton korporacias, Semdeg misamartze: 9.1 This Auction Announcement is made in Georgian and English languages. In the case of discrepancy between Georgian and English versions, the Georgian version prevails. 9.2 Information on the Auction is available via the official website of Corporation: All interested bidders are welcome to review the draft Contract and receive information/consultation regarding the Auction by addressing Corporation until 2.00 pm. September 12, 2016, at the following address: ss saqartvelos navtobisa da gazis korporacia saqartvelo, q. Tbilisi, kaxetis gzatkecili 21. "Georgian Oil and Gas Corporation JSC 21 Kakheti Highway, Tbilisi, Georgia sakontaqto piri: levan CubiniZe Contact Person: Mr. Levan Chubinidze tel.: +995 (32) (gafartoeba 355) Tel: +995 (32) (ext. 355) mobiluri: Mobile: faqsi: +995 (32) Fax: +995 (32) el. fosta: l.chubinidze@gogc.ge l.chubinidze@gogc.ge sabanko rekvizitebi: Bank Account Details: 11

12 banki: misamarti: a/a larsi: a/a dolarsi: SWIFT: sakor.banki: SWIFT: ABA: s.s. «Tibisi banki» saqartvelo, q. Tbilisi, marjanisvilis #7 GE 71 TB GE 88 TB TBCBGE22 Citibank N.A., 111 Wall str., New York, N.Y CITIUS TBC BANK s Correspondent Account: # Bank: Address: Account N. for GEL: Account N. for USD: SWIFT: Intermediary Bank: SWIFT: ABA: JSC TBC Bank 7, Marjanishvili Street, Tbilisi, Georgia GE 71 TB GE 88 TB TBCBGE22 Citibank N.A., 111 Wall str., New York, N.Y CITIUS TBC BANK s Correspondent Account: #