This extract from the Georgia post previously, could be easily overlooked, yet I believe is relevant for investors trying to get to grips with the political issues here. BUT, I EMPHASISE even if the ops here in Georgia went 'pear shaped'...there is plenty of upside potential in TRINIDAD/TEXAS.
Georgia was named the year's number one reformer in the World Bank's 2007 "Doing Business Survey," improving its overall ranking from 112 to 37.
Significant decrease in corruption in the public and private sectors made Georgia the World Bank's top anticorruption performer in 2006 "Anticorruption in Transition-3" (ACT3) report.
Repatriation of profit. Foreign investor?s rights and guarantees are equal to those granted to Georgians. Profit and property repatriation is allowed.
Infrastructure: Located at the crossroads of Europe and Central Asia, Georgia?s three major oil and gas pipelines, Black Sea ports, well-developed railway systems, together with its airports are playing an increasingly important role, linking East & West. The Georgian Railway, one of the crucial links in Eurasian transit, serves as a short-cut between Europe and Central Asia, carrying 3.9 million passengers and 22.6 million tons of cargo in 2006. Georgian Railway now directly links to the railway systems of Armenia, Azerbaijan and Russia.
Oil and Gas Pipelines: Georgia plays an important role as a strategic crossroad for hydrocarbon transit in the Caspian region. During the last ten years, approximately $5 billion has been invested to develop the three major oil and gas pipelines that cross Georgia including:
The Baku-Tbilisi-Ceyhan (BTC) pipeline, completed in 2005 at a total construction cost of nearly US$4 billion, can transport up to a million barrels of oil a day from the Sangachal terminal in Azerbaijan to a newly constructed marine terminal in Ceyhan on the Turkish Mediterranean coast.
The South Caucasus gas Pipeline (SCP), completed in 2006, will carry natural gas from the Shah Deniz field in the Caspian Sea to customers in Georgia, Turkey and Azerbaijan.
Construction of two new pipelines across Georgia increases its role as a strategic crossroad for hydrocarbon transit in the Caspian region. One pipeline will run just south of the Blocks.
Oil seeps are widespread in Georgia, with exploration in the country have commenced during the 19th century, by exploitation of the surface seeps and shallow drilling beneath them. The first substantive discovery, the Supsa Field near the Black Sea, was made in 1889 and still produces small amounts of oil today.
Georgia is a reasonably well established hydrocarbon producing province with a number of discoveries and seeps along the Greater Caucasus and Achara-Trialet frontal folds, which are present along the northern and southern margins of the two license, where there are numerous oil and gas seeps.
However, there have only been 23 small to medium size discoveries to date, with the largest being the Samgori field, which was discovered in 1974 and has produced more than 165mmbbls to date, with an estimated 200mmbls of recoverable reserves. Nevertheless, the trend of oil discoveries in Georgia confirms the presence of a working hydrocarbon system that extends from Georgia into the Black Sea.
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