''We are ready for a compromise to make it possible for the Frontera company to continue operation on specific mines if it gives relevant guarantees,'' Georgian Deputy Minister of Economy and Sustainable Development Davit Tvalabeishvili said.
In his words, a meeting with Frontera is necessary regarding the issue.
He says Georgia and Frontera ended a dispute on all main issues presented by the Georgian side and ended up with a positive decision.
Tvalabeishvili says that specific questions remain for Frontera and Georgia's US partners.
"We are ready to discuss all the questions with the company and find a compromise,'' Tvalabeishvili said, adding Georgia calls on Frontera to hold a meeting.
On April 17, 2020, the international arbitration tribunal made a final verdict in the dispute between the Georgian Oil and Gas Corporation, the State Oil and Gas Agency, and Frontera.
Regarding the verdict, on April 27, 2020, the State Oil and Gas Agency sent a notice to the US company Frontera on the contract termination.
As Georgia's Oil and Gas Corporation reports, the decision of the arbitration tribunal is final.
The corporation notes that the contract is subject to automatic termination on July 27, 2020.
Frontera Resources Corporation is a US gas and oil exploration and production company, established in 1996.
Bela Gelashvili
News Author