A Memorandum of Understanding (MoU) has been signed by the SOCAR Energy Georgia director general Mahir Mammadov and GNOC President Leri Khabelov.

The company has played a key role in funding various Olympic programmes in Georgia and projects, publication and educational activities, as well as promotion of the Olympic Movement in general.

"We try to support Georgian sport as much as we can," said Mammadov.

"You are aware that we are also partners of several [National] Federations.

"Collaboration with the [Georgian National] Olympic Committee is a great honour for us.

"We're definitely rather proud and pleased to see the modest contribution of SOCAR to the development of the Olympic Movement."

The GNOC is due to soon celebrate its silver jubilee following its creation in October 1989 after the break-up of the Soviet Union. 

"We are grateful to the company that fosters the development of Georgian sport," said Khabelov. 

"Thanks to its help we have realised ​​several important projects.

"The 25th anniversary of the NOC is approaching, and we have even more plans.

"I am happy that SOCAR is helping us."

Judoka Zurab Zviadauri won Georgia's first-ever Olympic gold medal, at Athens 2004
©Getty Images

Georgia made its Olympic debut in the Winter Games at Lillehammer in 1994.

It has appeared in the Summer edition for the first time at Atlanta two years later and has taken part in every Games since.

It has won a total of 25 medals, including six gold medal. 

Its first medal was a bronze in judo for Soso Liparteliani.

Its first gold came in the same sport when Zurab Zviadauri won the men's under 90 kilogramme at Athens 2004.

Beijing 2008 was its most successful Olympics when it won a total of six medals, three of them gold.

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