The European Bank for Reconstruction and Development (EBRD) announced it have provided a US $ 5 million loan to Expert Petroleum to finance the enhancement of Romanian mature oil and gas onshore fields. Investments will be used for the operation to “continue to be economically viable, compliant to the latest environmental regulations and to ensure the recovery of the hydrocarbon reserves is optimized”.

Eric Rasmussen, EBRD Director for Natural Resources apreciated that Expert Petroleum “continues to provide an innovative and unique approach in the rehabilitation of mature oil and gas fields and ensure domestic hydrocarbon resources are more efficiently recovered”.

Expert Petroleum is part of the GMS Holdings group and it operates 18 mature oil and gas fields with 400 producing wells in Romania, employing over 1000 people.