The Board of the European Bank for Reconstruction and Development has approved on 11 November financing of up to $30 million for the $3.2 billion Azeri-Chirag-Deepwater Guneshli Phase 1 oilfield in the Caspian Sea offshore from Azerbaijan
Published:
18 November 2003 y., Tuesday
The Board of the European Bank for Reconstruction and Development has approved on 11 November financing of up to $30 million for the $3.2 billion Azeri-Chirag-Deepwater Guneshli Phase 1 oilfield in the Caspian Sea offshore from Azerbaijan, with the equivalent sum to be syndicated to commercial banks.
Phase-1 project provides for development of central Azeri with estimated resources of 193 million tons of oil. As the result of the project implementation, the international consortium AIOC will have the opportunity to increase daily production from the contract area from 132 thousand barrels up to 375 thousand barrels.
The EBRD and BP plc, the main sponsor of the two projects, have agreed to launch a Regional Development Initiative to create long-term jobs and sustainable economic development after pipeline construction is complete. The EBRD and BP have each earmarked up to $25 million in grants and loans for the initiative. Other members of the BTC consortium are expected to join with target funding overall of around $100 million.
Šaltinis:
Turan
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
The Kakheti Regional Roads Improvement Project for Georgia aims to reduce transport costs and improve access and traffic safety for the Kakheti regional roads.
more »
“Don Quixote – Made in Romania” brought the curtain down on the Cultural Days of the European Central Bank (ECB) 2009, with an expressive combination of tap dance, folklore, pantomime and martial arts.
more »
The Latvian Finance and Capital Market Commission permitted Mr. Vladimir Antonov, who is also the main shareholder of AB Bank SNORAS, to acquire and manage up to 33 per cent of the shareholding of the Latvian bank AS “Latvijas Krajbanka”.
more »
On October 30, the French-capital company “Eurovia Lietuva” opened a new asphalt plant near the capital city Vilnius. The company invested EUR 3.5 million into the new factory which is located near the old manufacturing facility to be closed soon.
more »
During the extraordinary general shareholders' meeting of AB Bank SNORAS, which took place on 5th November 2009, it was decided by additional contributions to increase the authorized capital of the bank by more than LTL 88 million.
more »
The French-capital company “Eurovia Lietuva” opened a new asphalt plant near the capital city Vilnius.
more »
“Banking Market in the Baltics 2009-2011, CEE Banking Brief” report recently presented by Intelace Research states that, despite the current economic recession, Estonia, Latvia and Lithuania are still among the most advanced banking markets in Central and Eastern Europe (CEE).
more »
The Bank of Lithuania permitted AB Bank SNORAS to include in the second level capital LTL 72.5 million (EUR 21 million) worth emission of termless debt securities distributed via non-public distribution on 31st August this year.
more »
The remit of the Parliamentary Committee set up to examine the financial crisis was debated at its first meeting on Wednesday (4 November).
more »
Europeans can now use direct debit from their home account to pay bills anywhere in the EU.
more »