The export project belongs to GSP Holding, is part of the investment program implemented by the Greek company Energean Oil&Gas for exploring and producing hydrocarbons and will consist in engineering services, acquisitions, contractor works, installation of underwater pipelines, exploitation works of petrol fields’ platforms and oil drilling works in Prinos area in Aegean Sea on the Greek continental platform.
Thus, EximBank has initiated and coordinated a syndicate financing by granting a buyer credit amounting at USD $75 million, as a segment of the total financing of USD $180 million granted in partnership with EBRD and Black Sea Trade and Development Bank to Energean Oil &Gas.
Within the syndicate, EximBank has teamed up with Intesa Sanpaolo Bank Romania, allocating USD $25 million, for Energean Oil& Gas to use exclusively for buying the Romanian goods and services. The bank has also issued a buyer credit insurance policy in the name and on behalf of the state amounting at USD $71.2 million.
”Overall, this export project has an 80% national content”, said Traian Halalai, Executive President of EximBank.