MINISTRY OF ECONOMY
AND SUSTAINABLE DEVELOPMENT
OF GEORGIA

Issues of cooperation in the energy sector were discussed by Mariam Kvrivishvili and Wang Yutao, Chairman of one of China’s largest state energy companies, China ZhenHua Oil, at a meeting held in Beijing.

The parties discussed opportunities for oil and gas extraction in Georgia. The Chinese side expressed interest in carrying out investments in Georgia’s energy sector.

The Minister also provided Wang Yutao with information on Georgia’s economic opportunities. As stated at the meeting, the Georgia-China strategic partnership, strengthened by the Free Trade Agreement and visa-free travel, creates a solid institutional foundation for Chinese business.

China ZhenHua Oil Co. Ltd. is a major Chinese oil and gas company that invests in production, field development, and oil and gas trading. The company’s registered capital is approximately 1-1,1 billion USD, with total assets in the range of 5-8 billion USD. Its annual oil and gas trade volume exceeds 50 million tons, providing more than 20 billion USD in annual revenue.

Along with Mariam Kvrivishvili, Deputy Ministers Irakli Nadareishvili and Genadi Arveladze, Director of Enterprise Georgia Mikheil Khidureli, Head of the State Agency of Oil and Gas Giorgi Tatishvili, and Georgian Envoy to China Besik Sharashidze also participated in the meeting.