The PVT properties are used in a wide variety of reservoir engineering calculations such as material balance calculations and finite difference numerical simulations. For gas condensate reservoirs, the main PVT properties that are used to predict the gas condensate reservoir behavior are solution gas oil ratio, oil formation volume factor, gas formation volume factor and vaporized oil gas ratio. The best source of the PVT properties is the laboratory PVT analysis of reservoir fluid samples. In the absence of the experimentally measurement of these properties, the PVT properties must be calculated from empirical correlations. In this paper, new correlations were developed to determine the gas oil ratio and oil formation volume factor for gas condensate reservoirs. To estimate the constants of the new correlations of the gas oil ratio and oil formation volume factor for gas condensate reservoirs, about 300 values obtained from PVT reports of gas condensate fluid samples, were used. Whitson and Torp's method was used to generate the values of oil formation volume factor and used them for developing the new correlations for oil formation volume factor. These samples were selected to cover a wide range of gas condensate reservoirs properties such as pressure, temperature and oil gravity.