Russian Sberbank CIB to finance Kazakh oil producing company
Baku, Azerbaijan, Jan. 29
By Elena Kosolapova - Trend: Russian Sberbank CIB together with the its Kazakh subsidiary Sberbank arranged financing for Kazakh private oil company "Maten Petroleum", Russian news agency Prime reported on Jan. 29.
The bank will provide the company with a $200 million loan for three years for general corporate purposes.
Maten Petroleum owns subsoil contracts for three fields in Kazakhstan: Kara-Arna, Eastern Kokarna and Matin.
The total volume of the company's proven and probable reserves hit 58.1 million barrels as at 30 June 2012 (according to the auditing company Gaffney Cline & Associates).
Edited by CN