The Black Sea Trade and Development Bank (BSTDB) on Tuesday announced it is providing a loan of up to 90.5 million euros to Energean Oil and Gas S.A. (Energean). The proceeds will fund Energean’s investment plans – in particular the development of the Epsilon and Prinos fields – and will also support its working capital needs and the finalization of structural expenditures in the Prinos infrastructure complex.
The project will create jobs for suppliers of goods and services in the drilling and construction industries, as well as maintaining livelihoods in key Greek businesses amidst the on-going Covid-19 pandemic.
Energean expects first oil from the Epsilon development in the first half of 2023.
SOURCE: AMNA
