Rosneft to obtain loan of USD 700 million to develop Prirazlomny oil field

Russian oil giant Rosneft is planning to obtain a loan of USD 700 million in order to develop the Prirazlomny oil field. This was announced on June 21 by President of Rosneft Sergei Bogdanchikov. He added that this money would 'not only be spent on a platform but also on two oil tankers with a dead weight of 70 thousand tonnes each, an ice breaker and other oil-extracting equipment.'

Mr Bogdanchikov also mentioned that Rosneft had given a presentation of the platform which is currently under construction to representatives of the EBRD (European bank of Reconstruction and Development), Sberbank and ABN-AMRO. 'They seemed to be interested; I am not exactly sure which of these banks will offer us the loan to finance the construction of the platform, perhaps they will make a joint offer, but there is a good chance that a loan will be given,' he said.

Mr Bogdanchikov pointed out that Rosneft together with Gazprom had already invested 'several million dollars' in the development of the Prirazlomny oil field.

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