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 EU should act in a united fashion to tackle the financial market crisis, and Member States should avoid unilateral steps which cause problems for their neighbours, according to most of the MEPs taking part in the debate on next week's EU summit and the financial turmoil.
more »
Following the decision by the Economic and Financial Affairs Council (ECOFIN), the Government of Lithuania raises deposit guarantee protection for individuals from EUR 22,000 up to EUR100,000, demonstrating the credibility of Lithuanian finance sector and safety of deposits at financial institutions.
more »
As banks tumble like bowling pins and confidence plummets, Thursday sees MEPs consider whether to back wider financial regulation.
more »
On 6 October, the Embassy of Latvia to Lithuania received a reply to the note of Latvian Ministry of Foreign Affairs regarding the ruling of Vilnius District Court pertaining to the Latvian company airBaltic and Riga’s airport on the basis of the request of the Lithuanian company flyLAL.
more »
Lithianian Development Agency in cooperation with the Lithuanian Embassy to the United Kingdom of Great Britain and Northern Ireland as well as Alro Group, a real estate investment consultant, based in London, present “The Lithuanian Economic Forum” which will take place on October 8 in London.
more »
Italian Prime Minister Silvio Berlusconi thinks that the closedown of Ignalina NPP might be postponed and affirmed this opinion to Lithuanian Prime Minister Gediminas Kirkilas who is presently on a working visit to Rome.
more »
Open Collaboration Portfolio Integrates Cisco Unified Communications, Cisco TelePresence and Cisco WebEx.
more »
Wincor Nixdorf's portfolio of software solutions for the branch business of postal services providers, PC/E Postal Solution Suite, has been newly structured and expanded to include additional functionalities.
more »
Session to Focus on How Enterprises Can Proactively Reduce Risk.
more »
The revised GDP growth rate in II quarter 2008 equalled 5.2 per cent.
more »