We continue to present the 2017 nominations for the energynomics.ro Awards, with the Financing of the year category. Only one of the projects below will be rewarded during the Gala from December 7th, but every company and everyone involved in these projects deserve our respect and the widest promotion. We thank all the companies and personalities involved in this effort to draw the image of the Romanian energy industry in 2017 through its achievements!
EBRD granting a $5 mln loan to Romania’s Expert Petroleum
The European Bank for Reconstruction and Development is providing debt financing of $5 million (4.47 million euro) to Romanian oil fields rehabilitation company Expert Petroleum.
The planned investment will have positive transition impact by setting standards of corporate governance and business conduct and by demonstration that technologically advanced secondary hydrocarbon recovery can be run as an independent viable business.
Expert Petroleum is an agile and lean organization specialized in mature oil and gas fields operations optimization, workforce development, energy efficiencies, production and reserves enhancement. The Company operates 18 mature oil and gas fields with 400 producing wells in Romania, employing over 1000 people. It is part of the GMS Holdings group which is a large private family investment group of diversified international businesses.
In August, Expert Petroleum took over UK-based energy services group Petrofac Romania. With some 780 employees, Petrofac managed all aspects of the fields’ activity on behalf of oil and gas group OMV Petrom.
GreenFiber – 7.5 million euro loan for circular economy
The EIB loan will finance a recycling and circular economy project that will create 280 jobs and process over 50,000 tons of waste per year.
The credit is granted through the Juncker Plan to GreenFiber, which produces synthetic fiber in Buzau and Iasi, marking the beginning of a modern period in Romania, where natural resources and oil as raw material have been replaced with waste as a renewable resource.
In September, GreenFiber International, based in Buzau, part of the Green Group, announced that it will invest EUR 35 million in the Urziceni city to build a synthetic fiber recycling plant in one hundred percent recycled PET. It is the third company of its kind after those in Buzau and Iasi.
Shandong Kerui Petroleum Equipment Co., Ltd – Drilling equipment procurement project
Kerui provides to our customer S.C. FORA, SONDE S.A. – Videte 2 years of financing solution with the value of 4 million USDs, also with drilling rigs and all the necessary associated equipment.
Kerui (we) collaborated with local partner and won the bid, we provided our partner a flexible payment term with a credit line up to 2 years, this is the biggest financing project for Kerui in 2016.
Kerui Petroleum is the largest manufacturer and service provider of oil and gas equipment in China. The Group has nine business departments and six large manufacture bases covering a total land area of 2.4 million square meters, specialized in the research, design and manufacture of nine series of high-end petroleum equipment products, including onshore drilling/workover rigs; large oilfield fracturing units; special operation equipment such as coiled tubing unit, cementing trucks and nitrogen unit; natural gas compressor; oil and gas production and processing system; natural gas liquefaction unit; wellhead and well control system; and oil production machinery.
Transgaz has received a EUR 50 million loan from the EIB to finance the construction of the BRUA project
Transgaz has signed with the European Investment Bank (EIB) the 50m-euro financing contract to finance the BRUA project, an operation supported by the European Investment Fund (EFSI) under the Investment for Europe (EIP) program.
EIB funds will finance the construction of a 478 km natural gas pipeline between Podişor and Recaş and the construction of three compressor stations located in Podişor, Bibeşti and Juppe, România.
The new pipeline is the first phase of the Romanian gas pipeline section that will connect Bulgaria with Austria via Romania and Hungary (BRUA). The Transgaz-BRUA gas interconnection project, estimated at over € 500 million, received a grant of € 179 million from the European Commission under the Connecting Europe Facility (CEF).
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