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Posted by Looed on the 2nd June :-

"Oil and Gas Sector of GEORGIA in the Transition Period"
It is dated 2020 and at almost 200 pages this is more of a book than an article. Its purpose is -

"The publication deals with the current state of oil and gas sector, prospects for its development and energy security of Georgia; it also focuses on regional oil and gas potential, production and delivery prospects to the European market. Special attention is paid to the transit and inland transmission pipelines, their reliability and safety, preconditioning security of supply to local and European markets. It also highlights the issues of harmonization of Georgian energy legislation with the European one and institutional structures as well as the integration of the market into the single energy space, discussing the corresponding legal grounds."

It doesn't get into company-level specifics - FRR is only name checked on a map showing all the blocks. In-depth discussion of Georgia starts on p73

"Proven oil reserves of all deposits of Georgia, as of 2018, total to about 1.5 million tons and gas reserves - about 4.0 bcm. Probable reserves of oil is 4,81, possible reserves are 21,52bln tons, gas - 4, 9 and 6.8 bcm respectively."

- http://weg.ge/sites/default/files/book_4_25_21.03.2020.pdf

About the author - "In 2007, Teimuraz Gochitashvili joined the Georgian Oil and Gas Corporation, holding positions of Advisor, Chairman of the Supervisory Board, Technical Director, Commercial Director, Head of Strategic Planning Department." though it doesn't read as a pro-GOGC manifesto.

Introducing Reginal W. Spiller? Esq.
Who says, amongst other achievements that he "was the co-founder and chief scientist for Frontera Resources Corporation, where he conducted extensive oil field development in Eastern Europe and Central Asia" and is taking part in "Weathering the Storm in the Current Oil and Gas Crisis Wednesday, 10 June 2020, 11 a.m. MDT"

A bit of a stretch I know but would he be likely to mention FRR if it really was a corrupt / poorly performing / all the negative things that are stated?

https://www.geosociety.org/documents/gsa/careers/weathering-oil-crisis-20200610.pdf

Posted by Moleinahole on the 1st June :-

RE: Does FEGL have a future?
Well oiled have looked at the document again. Saw this the other week and agree it relates to Frontera Georgia Foreign registered branch (a further Georgian company registration of the Cayman subsidiary that Frontera Caucasus held shares) that used to hold the 50% in FEGL but Zaza moved into FRR US.
It looks like some sort of charge/interest on the company register - the same documents show a mortgage/lease with JSC bank who also have a charge. Always hard to read these documents.
There appears to be two dates 25/03/19 for the JSC mortgage/lease and 19/11/2019 for the other entry , N00640586, 19.11.2019, Revenue Service. Quite what that is and who is behind it is hard to tell. But if you trace the request on 11th May 2020 back to the company registration page it was made by JSC bank to extract from the register.
Maybe its JSC who are concerned about whatever their interest is?

FEGL s in the hands of the PSA termination. If its a 100% termination FEGL would be wound up.

As to the fate of the transfer to FRR US. That seems to have been a matter of debate in the arbitration. Hence why FIT started the litigation in New York potentially to unravel the transfer. The entry is as likely related to that as anything by the the State. To work out what the charge/mortgage interest was you need to try and get behind the bit:

Tax lien / mortgage: 102019424904 19/11/2019 10:33:41
Branch of a foreign enterprise (representation) Frontera Risorsiz
Georgia Corporation Georgia Branch S / N 204931431
Subject: whole property, whole property
Grounds: Notice, N00640586, 19.11.2019, Revenue Service

Posted by Welloiled on the 1st June :-

Mole, there's more:
Right to pledge/leasing of moving items and intangible property
Pledge/Leasing Registry: R19125407 25/03/2019 18:34:57
Creditor : Bank of Georgia (Georgia) 204378869
Owner : Frontier Risorsiz Georgia Corporate Branch in Georgia (Georgia) 204931431
Subject: Intangible Property Goods: Balance existing inventories both existing and future
Ground: pledge agreement, CAP000326892, National Agency of Public Registry, 25.03.2019
Registry of debtors: not registered
It's this section that makes me suspect there is a move to recover whatever they can from FRGC as it indicates there is a pledge agreement dated 25/03/19 with the Bank of Georgia as creditor. However, as you say, these documents are difficult to understand because of the translation.

With regard to moving the FRGC's 50% ownership of shares in FEGL to FRUS, I haven't seen any document to support this as the last FEGL entry on https://enreg.reestri.gov.ge/ was dated 18/11/2019 which identified FRGC. If the transfer had taken place, I would expect it to be documented there.

Posted by Welloiled on the 1st June :-

Does FEGL have a future?
On 11/05/2020 from what I can deduce from https://bs.napr.gov.ge/GetBlob?pid=400&bid=boVlyOwlsX3qmYsntmLmFOVTl7XUU3VuyGKAyKrhRrJhMyeEbpOYT7btZUE5iqJH it appears the state has taken steps to ensure the payment of tax (and possibly other) arrears from FRGC. Does this mean that FRGC is being liquidated (or is in the process of) and if so, what is happening to FEGL and does it have a future?

On 18/11/2019, FEGL was reincorporated with 50% owned by Frontera Risors (or Risoriz) Georgia Corporation (FRGC), CR 72227 / USA (address Tbilisi, Vake-Saburtalo district, Paliashvili str., No12) and 50% owned by the JSC Georgian Oil and Gas Corporation (ID 206237491); Zaza is the General Director and FEGL’s areas of activity are the search and extraction of oil and natural gas and its address is Gorgasali str., No15, Dedoplistskaro. Why base FEGL in Dedoplistskaro when the owners are based in Tbilisi? Dedoplistskaro lies just to the north east of Taribani (80 km2, approximately 1.6% of B12), Oil: 1,033 MMbbl (OOIP) of which 155 MMbbl is recoverable; Natural Gas: 4.6 TCF (OGIP) of which 3.2 TCF is recoverable (https://fronteraresources.com/operations/georgia/taribani/).
Was FEGL intended to exploit Taribani and if so, what happens now? Assuming that GOGC wish to extract the oil and gas from Taribani then it makes sense to continue the partnership as Frontera understands the geology and has done all of the work to unlock its potential.

On 04/06/2019 Maples certified that FRGC (Incorporation Number 72227) based solely on the Register of Members of the Company maintained at the Registered Office, the issued share capital is $100 and the shareholder is Frontera Resources Caucasus Corporation (IN 97554, FRCC). The IN of Frontera International Corporation (FIC) is 71338 and for Frontera Resources Corporation (FRC) is 256380. Based solely on the Register of Members of FRCC maintained at the Registered Office, the sole shareholder of FRCC on 13/04/2019 was FIC. Based solely on the Register of Members of FIC maintained at the Registered Office, the sole shareholder of FIC is FRC.

From this, FRGC is owned by FRCC which is owned by FIC which is owned by FRC.

The farmout agreement of 13/04/2019 FRGC assigned to Frontera Resources US, Texas (FRUS) an undivided 100% Participating Interest in the PSA with respect to the Farmout Area (Block 12) and its entire Operating Company interest. FRUS is owned by FRC. FRGC had ownership title to 50% of share capital of FEGL, this was to be transferred to FRUS by Leva Bakhutashvili and George Janiashvili. Has it?

Posted by keysersoze on the 31st May :-

Part 11
- I do not know. I'm even somehow uncomfortable. I don't even know if it is real that someone in the embassy thinks positively or not positively. In all the countries where we have worked, all the embassies have always supported us, and we are very grateful to them.
- Have you met Vladimir Groysman? Was it possible to convey to him the position of your company on the "Dolphin"?

- No. The only time I met him was when he was visiting the United States. Then there was a meeting with business circles in Washington.

- How do you explain the Cabinet's critical attitude to Frontera?

- We understand very clearly why this attitude has developed. As soon as the authorities announced the competition, we were covered with lies in the press.

- Who are the customers of these messages?

- As far as I am told, these are our competitors.

- Ukrnefteburenie, Trident and Socar applied for the Dolphin.

"It wasn't Socar."

- The circle narrowed to two.

- At a certain stage, it seemed to us that this was the beginning of Ukrnefteburenie, and then Trident picked it up. It seems that now they are united.

- These companies have different goals.

Govyell, "Ukrnefteburenie" participated only to obtain the status of the subject of the competition, to have grounds to challenge it in court.

Trident probably participated in the competition to start developing "Dolphin". This project is the company's last chance: the $ 200 million it raised expires on December 1.

- Probably, but as far as I know, until the competition for "Dolphin" was announced, Trident did not even know about the existence of this project.

- "Dolphin" is located near the occupied Crimea and in case of hostilities falls into the conflict zone. Why are large Western companies afraid to come to such projects and Frontera is not?

- First, neither large nor small companies like it when there is a conflict situation.

Secondly, this project is intelligence. You need to take risks and invest in intelligence. If the intelligence confirms that there is a commercial field, then we need to know what it is. Companies like us come to such projects.
Thirdly, in Ukraine, unfortunately, the system is not so transparent and easy for all companies to come and apply for participation in the competition. The complex of these problems also forces many to stay away.

Posted by keysersoze on the 31st May :-

Part 10
- When Frontera lost the Dolphin competition, eight congressmen defended it. How to explain the disproportion between the modest results of Frontera and the great political support in the United States?

- This is not a disproportion. How can financial results be bad when only one field has been valued by international appraisers at $ 620 million?

And we have three or four more such deposits. In Georgia. These investments bring concrete results. Competitors want us to look very bad. What are the bad financial results? Show me another company that created the value we created.

For the first time in the history of Georgia, we have confirmed reserves of 350
350 billion cubic meters of gas. Of this volume, about 300 billion cubic meters are recoverable reserves. This has never happened in the history of Georgia. This is already a cost.

- What is the name of the company in Georgia that develops these four fields in the interests of Frontera Resources?

- Frontera Eastern Georgia.

- Frontera has more political weight than money. Why?

- Do you think there were no people in Georgia who wanted to hinder us? There were such things too. One way or another, this is now coming to life. Therefore, the tale that someone wants to paint us as a company with problems is all part of the strategy. I can provide you with all the assessments and reports.

- How to correctly understand the interest of eight congressmen in defending Frontera? Did you turn to them to speak in your support?

"No, but they know us well." They know very well what we do, who we are, what results we get. When we first came and started working in Azerbaijan, people there didn't have the money to go to the store to buy food, but look what is happening there now. These people have known us since then.

Now the same thing is starting in Georgia. In ten years you will come to Georgia and will not know this country at all. It will already be an independent country with its own oil and gas resources. And the same will happen in Ukraine.

- On the one hand, congressmen support Frontera, and on the other - during the week of your presence in Kiev, the US Ambassador to Ukraine did not meet with you. Moreover, they say, he distances himself from you. Why?

"I don't know, to be honest." I never tried to meet him. Anyway, I met with many officers from the economic department of the embassy. I was even pleasantly surprised at how friendly they were.
- Perhaps it is more correct to say that Frontera has local support in Texas, where most of your partners come from, and not in the United States?

Posted by keysersoze on the 31st May :-

Part 9
- Distrust of Frontera on the part of the Ukrainian authorities and competitors is explained by the fact that this company is not known in the Ukrainian market. Let's try to refute the information that you have no money. Name one or two potential investors willing to give you money.
- Probably the best counterargument is what we have already invested. I have already said that we have invested $ 550 million in Georgia. Where did this money come from? We have invested about $ 450 million in Azerbaijan. Where did this money come from?

Everyone knows perfectly well how this money appears. If you have a good project, you can raise good money. This is what we have been doing and will continue to do. Money can be raised in the stock market, in the private capital market.
When we became a public company, Morgan Stanley listed us on the London Stock Exchange. This was then considered a very successful IPO. In addition to Morgan Stanley, we work with other banks, such as JP Morgan, Evercore, Jefferies.

- So these financial institutions are ready to give you money?

- Yes.

- Why did Frontera leave the London Stock Exchange in 2018?

"For one reason." We were undervalued on the stock market, so we decided to leave. When the market will evaluate us accordingly or not, we will continue to work as a private company.

- Is it true that Frontera conducts stock exchange agreements every year, that is, attracts foreign money on an annual basis?
- No, it does not depend on the calendar year, but on the availability of the project.

- It is said that Frontera lives from project to project: it signs agreements with governments, its shares soar, it raises money, but in the end the project is not implemented, and then the cycle repeats itself.

- Let those who talk about it, name at least one example when we signed the agreement and our shares went up. This has never happened before.

By the way, in 1999 or 2000 we started drilling at one field in Georgia. The then President Shevardnadze arrived there. There was a ceremony, everyone was happy. Then someone wrote that Frontera brought the president, their shares rose and they "withdrew" a lot of money.

And we were not even listed on the stock exchange then. This is a fairy tale. No one will show that when we signed something, it affected the growth of our shares.

- In the relationship between the signing of the agreement and the growth of the value of shares, there is an assumption that Frontera is not working to extract gas, but to absorb the money of its external investors.
- Probably the most correct answer is that I personally invest my money in these projects. Invested a substantial amount.

- How much of your personal funds have been invested over the years?

- A lot. More than tens of millions of dollars.

Posted by keysersoze on the 31st May :-

Part 8
- The company has been around for almost 25 years. More than $ 1.5 billion has been invested. This is not only in Georgia, Azerbaijan and Moldova. We had projects in Bolivia and Colombia. We almost signed a contract in Venezuela. Hugo Chavez came and it was over.

- The amount of gas produced during the existence of Frontera covered at least half of the amount of money invested by it, that is, at least $ 700 million?

- More than 700. Azerbaijan and Bolivia were profitable projects. In Georgia, we are still in the red: we have invested about $ 500 million and extracted $ 100-120 million. However, what we found there will cover the investment by orders of magnitude.

- What are the financial results of Frontera for 2018?

- About $ 1.2 million in profit.

- In 2017, Frontera negotiated with the Ministry of Energy on the
development of oil and gas areas. You applied for the development of two sites: one - on the land part of the Odessa region, the second - on the shelf of the Black Sea. Did you want to master two plots or which one will you give?

- We have studied all regional seismic lines in Moldova, which are not only on land but also at sea that show the same reservoirs throughout this region.

- So you wanted to master both land and sea parts?
- For us, it does not matter where the political border is, where the sea is, and where the land is, because we are hunting for oil and gas deposits.

- When applying to the Ministry of Energy of Ukraine in 2017, your then application included the areas of the Odessa and Nameless offshore fields, which are now operated by Russia, which has occupied Crimea. How did you imagine working in this part of the territory?

- There are many examples in the oil and gas business when oil and gas exploration and production take place in such conflict areas.

- So you felt the strength to agree with the Russians?
- Of course, but I don't know, maybe "agreeing with the Russians" is the wrong phrase.

- Well, not in the sense of a bribe, but in an official way.

- We feel very confident that there are good preconditions for that. They justify our optimism that we will work there without questions.

- What are Frontera's investment plans for the Dolphin site?

"We plan to drill seven wells there in five years." One well will cost 15-20 million dollars.

- In addition to these costs, you will need to build a pipeline from wells to land with a length of about 130 km. How much more money is this?

- Another $ 250-300 million. However, it is too early to talk about the pipeline. It all depends on the capacity of the production area.
"Even without the cost of the pipeline, seven wells is $ 140 million. Where will Frontera get that much money?"

- We have a large and strong group of private investors who are interested in investing with us. We will raise money and invest in Dolphin.

Posted by keysersoze on the 31st May :-

Part 7
- Since 2015, you have been a member of the Atlantic Board of Directors. Who invited you there?
- This is a very interesting organization, there are amazing people working there - very hardworking. For many years I was a member of this organization, I worked honestly with this organization and with these people. Over time, there was more and more cooperation, we began to work closely in many areas, on energy, political, geopolitical projects.

- Who invited you to the board of directors?

"It's hard to answer." The decision is made by a very large group of people. I talked to many people and at a certain moment I heard an offer from one, two, three and then accepted it.

"Is it true that John Herbst invited you to the Atlantic Council?"

- No. I met him at the Atlantic Council.
- Herbst is considered a very influential person in Ukraine.
- He is well versed in all the nuances - geopolitical, economic. He knows Ukraine, the American political and economic system very well. He has vast diplomatic experience.

- Does he advise American business in Ukraine?

- What I can say for sure: John is very interested in Ukraine's development, very much - in political and economic terms.

- In 2015, Frontera Resourses signed a memorandum of cooperation with Naftogaz. Was Herbst's contribution there?

"No, John has nothing to do with it." We signed the first documents in Ukraine in 2012. Stavitsky was also the head of the Ministry of Energy.

We have signed a protocol of intent and confidentiality with the State Geological Survey. The latter meant that we could not disseminate the geological and geophysical material transferred to us without the knowledge of the State Geological Survey.

- What assets belong to Frontera in the world?

- Our most active position is in Georgia, Moldova and Ukraine.

In Gru

We produce oil and gas. Here is the geological corridor where we work (points to my computer screen). We see the same geological deposits. Since no company has such experience, we are the only company that operates in Azerbaijan, Georgia, Moldova and Ukraine.

- What volumes of production does Frontera operate with?

- The maximum volume was about 10 thousand barrels per day (1.3 thousand tons. - EP).

- Is it true that Frontera produces about 2 thousand barrels per day?

- No, less. Up to two. In 2018, we extracted about 500 thousand barrels (about 70 thousand tons. - EP). It's not about how many barrels. The matter is for what period production is calculated. Will it stop in two months or in 20 years?

On our project in Azerbaijan, which we have already talked about, production is still going on. For us, the most important thing is not just to find oil and gas, but to find deposits from which you can extract commercially for as long as possible.

- Frontera is 22 years old. How much did she invest in production during that time?

Posted by keysersoze on the 31st May :-

Part 6
- In 2016, Frontera Resourses won a tender in Moldova for oil and gas production on an area of ??12 thousand sq km…

- (Interrupts) There was not 12 thousand square kilometers, but about seven with a small.

- 2.5 years have passed since then. What was done on this site?

- This is a very delicate question. I don't mind sharing this with you, but I don't want our competitors to hear it. We have been engaged in geology, geophysics, and data processing at this site for several years.

- That is, geological research. Drilling started?
- We have not drilled yet. We are now digitizing all geological material, analysis and processing. This is a huge material.

After we process all this, we will determine the part of these 7,000 square kilometers where we will do seismic surveys in 2D and 3D. Based on the results, we will drill new wells. Here is such a plan.

Zaza Mamulashvili meets with Moldovan Prime Minister Pavel Filip

SOURCE: GOV.MD
Does Frontera have any business in Azerbaijan?
- No. We had two plots there in the southeast of Azerbaijan, 500 square kilometers, and several thousand square kilometers in the west of the country.

- Is it true that you took a loan from the EBRD for the development of these plots?
- Yes. This was the first time the EBRD had allocated $ 60 million for oil and gas operations.

(In 1998, Frontera Resources signed a contract for commercial oil production at Azerbaijan's Kursangi and Karabagly
fields. The agreement was preceded by an official visit by Azerbaijani President Heydar Aliyev to the United States. ).

- What are the results of production at these sites?
- When we took these deposits, there was zero production. After 1.5-2 years, production was already somewhere 8 thousand barrels (1 thousand tons. - EP) per day.

- What is the name of the company that produces hydrocarbons produced by you in the fields of Azerbaijan?

- Salyan Oil. We no longer own it. We sold it and left.

- For what reason did the EBRD sue the Stockholm Arbitration Court for a loan issued by Salyan Oil?

- The answer to this question will affect the Azerbaijani government.
- You can comment at your discretion.

- They were not satisfied with the behavior of the management of the state company Socar.

- Do you mean that Socar was a partner of Salian Oil in the EBRD-financed project, and the EBRD still has questions about this activity?
- Yes. They were scared and didn't want to do anything. By the way, after that all management in Socar changed.

- Has the EBRD sued both companies?
- No. In total, there is a not very attractive investment situation. This concludes my comment.

- The last question in this regard: how did the arbitration end?
- It ended up that Socar had to pay some losses. (According to EP sources, as a result of the conflict, the EBRD withdrew from this project).

Posted by keysersoze on the 31st May :-

Part 5
- No, I was a representative of private business, which was involved in this process in order to bring together the positions of the governments of these three countries and companies. They spoke different languages. This was something new for governments.

The contract stipulated that the managing operator of this pipeline would be the international consortium AIOC (Azerbaijan International Operating Company - EP), which included seven or eight companies. A few years later, BP became the main shareholder of this project.

- In the early 2000s, you were chairman of the board of directors of Trans Power Systems. Whose company is it and what did it do?
- In 2001, you headed the American Chamber of Commerce in Georgia. Was this the stage at which Shevardnadze also featured you?

- No. The new US Ambassador to Georgia, Kenneth Jalowitz, has arrived. He asked me to create this organization.

- What business in Georgia belonged to you then?

- At that time I was already in the oil and gas business, Frontera Resources occupied the largest part.

- Did something belong to you in Georgia itself?
- At that time in the region, in Georgia and Azerbaijan, were very active in the exploration and production of oil and gas.

- Is it true that you own 39% of Rusmetali?

"Yes, I forgot."

- Who was your main partner in this company?

- One of the local Georgian businessmen. I don't even want to mention him. I have lawsuits against him today. (According to EP sources, this is a businessman Mindie Mindeli).

Several years ago, the Georgian prosecutor's office accused Rusmetali of laundering 2.4 million GEL. What was it about?

- Sometime in 2009-2011, the CEO of this company (Timur Miminoshvili. - EP) issued 2.5 million GEL in cash - about $ 2 million. When he was asked questions, he replied: "I do not remember." This is where we stopped. These are all official documents in the prosecutor's office today.

- Was this the management of your business partner for this company?

- Management has conspired with one of the shareholders. They did it together.

- So they stole this money from the company?

- Yes, but not only these 2 million. There are more. When the investigation began, it turned out that tens of millions had been stolen there. Over time, this increases. There are some schemes. Some kind of horror is happening. The most important thing that the CEO conspired with the shareholder and they did so together.

- Since then, you have not increased your stake in Rusmetali?

- And so it remained. Although this case is in court, it smells like a crime, quite large, sooner or later we will decide on it too.

Posted by keysersoze on the 31st May :-

Part 4
Today, this part of the energy system operates as an export line and belongs to Georgia.

- How did you end up at Trans Power Systems?

- The Georgian government asked me. This was the period when the prime ministers were Niko Lekishvili and Avtandil Jorbenadze.
- They were members of Shevardnadze's team. He invited you to this project.

- Yes. Under that structure, he made all the decisions. I did everything during those two years and left.

- In 2001, you headed the American Chamber of Commerce in Georgia. Was this the stage at which Shevardnadze also featured you?

- No. The new US Ambassador to Georgia, Kenneth Jalowitz, has arrived. He asked me to create this organization.

To help the business raise that money. The initial contacts started with this.

- How did the idea to create Frontera come about?

- At one point, I exported Eastern European and Central Asian oil to Western markets. Bill White, representing President Clinton, drew attention to Eastern European countries.

Interest stopped in Azerbaijan, because in the sea, where a lot of oil and gas is now extracted, Azerbaijan was not given the opportunity to extract - it could not share the Caspian Sea with Iran and Russia.

Then the Clinton administration singled out Bill White to address this issue, and he decided it: Azerbaijan has started oil production in the Caspian Sea.

After that, the question arose how to export this oil. The development of the Baku-Supsa pipeline project, which could supply oil to international markets, has begun. This became an even bigger apple of discord - Russia was not interested in it. She wanted to take oil through Russian ports.

However, the pipeline was implemented and made Azerbaijan independent. Under Clinton, the US government took an active part in the negotiations.

I also actively participated in negotiations with the governments of Azerbaijan, Georgia and Turkey. In the end, the first line of the pipeline from Baku to Supsa was built, and then the second line appeared.

- How did you take part in these negotiations?

- As a negotiator between the three governments. I advised all these governments in the negotiations. The largest connecting part was Georgian. It connected Turkey on the one hand, and Azerbaijan on the other.

- At that time you already had influential ties in Georgia?

- I do not know how to determine the impact of communication.

- For example, were you identified by the then Prime Minister of Georgia?

- I then communicated at the level of the president. The President of Georgia was Eduard Shevardnadze. I talked to him directly, the project was developed at his level.

- Did he perceive you as a representative of the US government?

Posted by keysersoze on the 31st May :-

Part 3
- How did the idea to create Frontera come about?

- At one point, I exported Eastern European and Central Asian oil to Western markets. Bill White, representing President Clinton, drew attention to Eastern European countries.
Interest stopped in Azerbaijan, because in the sea, where a lot of oil and gas is now extracted, Azerbaijan was not given the opportunity to extract - it could not share the Caspian Sea with Iran and Russia.
Then the Clinton administration singled out Bill White to address this issue, and he decided it: Azerbaijan has started oil production in the Caspian Sea.

After that, the question arose how to export this oil. The development of the Baku-Supsa pipeline project, which could supply oil to international markets, has begun. This became an even bigger apple of discord - Russia was not interested in it. She wanted to take oil through Russian ports.

However, the pipeline was implemented and made Azerbaijan independent. Under Clinton, the US government took an active part in the negotiations.

I also actively participated in negotiations with the governments of Azerbaijan, Georgia and Turkey. In the end, the first line of the pipeline from Baku to Supsa was built, and then the second line appeared.

- How did you take part in these negotiations?
- As a negotiator between the three governments. I advised all these governments in the negotiations. The largest connecting part was Georgian. It connected Turkey on the one hand, and Azerbaijan on the other.

- At that time you already had influential ties in Georgia?

- I do not know how to determine the impact of communication.

- For example, were you identified by the then Prime Minister of Georgia?

- I then communicated at the level of the president. The President of Georgia was Eduard Shevardnadze. I talked to him directly, the project was developed at his level.

- Did he perceive you as a representative of the US government?

- No, I was a representative of private business, which was involved in this process in order to bring together the positions of the governments of these three countries and companies. They spoke different languages. This was something new for governments.

The contract stipulated that the managing operator of this pipeline would be the international consortium AIOC (Azerbaijan International Operating Company - EP), which included seven or eight companies. A few years later, BP became the main shareholder of this project.

- In the early 2000s, you were chairman of the board of directors of Trans Power Systems. Whose company is it and what did it do?

- It was a state-owned Georgian company.

I came with the project to the state of Georgia. He proposed to separate a part of the power system into a separate structure, to connect it with the Azerbaijani and Turkish power systems, to use this channel as an independent branch for the export and import of electricity.

Posted by keysersoze on the 31st May :-

Part 2
That's enough for eight American congressmen to join Frontera Resources, which lost the competition for the Dolphin. According to EP sources, the other day they sent a corresponding official letter to President Vladimir Zelensky. However, judging by the fact that the US ambassador to Ukraine is distancing himself from the American company, Frontera's chances are not very great.

Below is how Zaza Mamulashvili, a graduate of Tbilisi State Medical University, became an American businessman, the Georgian prosecutor's office's investigation into his company's management, lawsuits with the EBRD and a possible renaissance of hydrocarbon production in Ukraine.

- You are a native of Georgia. Who are you by education and what is your first position?

- I graduated from the Medical University in Georgia. He worked as a doctor for a couple of years and in 1989 went to study in the United States to continue his medical career.

These plans coincided with the period of the collapse of the USSR. Then everyone started looking for business contacts with the West. So I started to connect the two sides. This resulted in the fact that I began to communicate with business circles in the United States, which had an interest in the former Soviet Union. So I ended up in business.

- What was your first position or company where you worked?

- These were two trading companies. Metex exported steel and non-ferrous metals, MTA ltd imported oil from Russia and Kazakhstan to the United States. By the way, we also worked in Ukraine: with Krivorozhstal and Zaporozhstal.

- Who owned Metex and MTA?

- There were several private investors: me and several American partners. With them, we created this business 30 years ago.

- Who was your main business partner in the United States?
- These people were famous in business, then in politics, then we created Frontera together. For example, there were the US Treasury Secretary and the US Department of Energy.

- There were many heads of these ministries. Name the surnames.

"It's confidential." (According to EP sources, these are the former Minister of Finance, the late Lloyd Bentsen, the former Deputy Minister of Energy, Bill White, and the former Minister of Energy, Charles Duncan).

We started working together 30 years ago. This then resulted in Frontera Resources, where now my official partner is Dino Nicandros.

- How did these people become your partners? Did medicine unite you?

- No. Medicine has allowed me to open many doors in the United States.
On the one hand, I started doing business, on the other hand, I started raising money to invest in Georgian medicine. We created several programs, sent students. I knocked on many doors, to help the business raise that money. The initial contacts started with this.

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