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
Meteor lights are the most innovative solar LED lighting product. Available in two shapes: round or square. In five standard colors: red, green, blue, amber and white. Since no wiring is required, they are simple to incorporate into any new or existing design.
more »
The US financial crisis and global ripple effects, including the EU and Lithuania, have been among major issues discussed between Prime Minister Gediminas Kirkilas and EU Commissioner responsible for Economic and Monetary Affairs Joaquin Almunia in their meeting earlier.
more »
Statistics Lithuania informs that real earnings in the whole economy, individual enterprise included, in 2007 compared to 2006 increased by 17 per cent, in the public sector – by 13 per cent, in the private sector – by 19.9 per cent.
more »
thinkAlchemy and Green Pixel, LLC have launched a green marketing initiative: MillionDollarGreenPixel.com where environmentally conscious companies can buy advertising space in various pixel sizes and advertise their websites to conscientious consumers.
more »
LG Electronics (LGE), a global leader and technology innovator in consumer electronics, unveiled its latest products at IFA 2008 in Berlin from August 29 to September 3.
more »
Wincor Nixdorf International GmbH announced termination of its relations with Inpas Company concerning supply of equipment, solutions, and also service and software support for products of Wincor Nixdorf in the territory of the Russian Federation. The above decision comes into force on 31.12.2008.
more »
According to final data presented by the Ministry of Finance, national budget revenue of the 1st half-year of the current year amounted to LTL 11 billion 161.8 million, and that was by 1.1 % over the target.
more »
Retail Banking Research Ltd. has published the latest edition of its biennial global ATM survey, “Global ATM Market and Forecasts,” which this year makes predictions out to 2013.
more »
Woking, United Kingdom, Friday 7th March 2008: Vodafone McLaren Mercedes is delighted to announce Olympus as the team’s official supplier of photographic services.
more »
The Link Interchange Network Ltd. says around 2,000 new free-to-use ATMs were installed in the United Kingdom in 2007, with more than 400 of those being located in low-income areas.
more »