VTB Bank has agreed to provide a one-year loan to Nova Energeticheskiye Uslugi, an oil-well drilling company that is part of the Investgeoservice oil field service group and one of the largest in northwestern Siberia's Yamal-Nenets Autonomous Area.
The $286 million loan will finance the fulfillment costs of the company's contracts with leading oil companies.
"Oil production is a key to the Yamal-Nenets Area's economy. I am confident that the funding provided by VTB Bank will help increase the company's drilling capacity and promote the development of the entire region," Yuri Soloviev, the first deputy president and chairman of the management board of VTB, said.
Established in 2003, Nova Energeticheskiye Uslugi was created through a reorganization of Purneftegazgeologiya, a company incorporated in 1981 and based on the Tarko-Sale oil exploration expedition, a geological mission that had been in the area since 1965.
Investgeoservice is a group of companies engaged in oil prospecting and exploration projects, offering analysis of geological and geophysical data, hydrocarbon reserve assessment, well exploration and land surveys, and the construction of exploration and production wells, including wells for directional and horizontal drilling.
- MINISTRY OF FINANCE OF GEORGIA: The European Code of Customs Code will be launched in Georgia
- MINISTRY OF FINANCE OF UKRAINE: Ministry of Finance launches second module of "E-Data" project - open "Budget for citizens"
- EUROPEAN INVESTMENT BANK: Investment Plan for Europe: the EIB and Grifols sign a new loan agreement to advance research on rare and chronic diseases
- EURASIAN DEVELOPMENT BANK: The Eurasian Development Bank and Kazyna Capital Management signed an agreement on cooperation
- BANK ZENIT - RUSSIA: Banking Group ZENIT announced its financial results under IFRS for the six months of 2018
- BNP PARIBAS - UKRAINE: UKRSIBBANK Remotely Refines its Personal Data
- BANK OF GEORGIA: With the general partnership of the Bank of Georgia, the traditional horse racing "Baccharo Cup 2018" was held to popularize the resort Bakhmaro
- ASIAN DEVELOPMENT BANK: Philippine PPP Policy Gets a Boost from ADB's $300 Million Loan
- AG BANK: AGBank congratulates the people of Azerbaijan with the state attribute on the 26th anniversary of manat!
- ABN AMRO SERVICES COMPANY: New ABN AMRO campaign highlights sustainable business