PetroVietnam gets loan for rig project

The Vietnam National Oil and Gas Group (PetroVietnam) has signed a 37 million USD loan agreement with Standard Chartered Bank for its semi-submersible tender-assist drilling rig project.

The project has a total investment of 230.5 million USD under a business cooperation contract in which PetroVietnam will contribute 23 percent, equivalent to 53 million USD.

It also includes 16 million USD of equity and 37 million USD of lending secured by PetroVietnam’s interest in the BCC.

sggp, VNA

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