May 6 (SeeNews) - The Black Sea Trade and Development Bank (BSTDB) said on Thursday that it has provided a 15 million euro ($18 million) loan for the Midia gas development project in the Ana and Doina gas fields offshore Romania.
The financing for the project is part of an existing financial package put together by international and domestic banks, including the European Bank for Reconstruction and Development, Credit Agricole, Societe Generale, Banca Comerciala Romana, Raiffeisen Bank International and BRD Group Societe Generale, BSTDB said in a press release.
The loan is provided to three Romanian companies - Black Sea Oil & Gas, Petro Ventures Resources and Gas Plus Dacia, it added.
Being the first gas production facility in the Romanian Black Sea offshore built after 1989, the project will diversify the sources of gas supply in the country, the bank commented.
Black Sea Oil & Gas is a Romanian based independent oil and gas company, targeting exploration and development of gas resources. Current portfolio is made up of XV Midia Shallow Block concession in the Romanian Black Sea where it is the operator and holds a 70% interest.
Gas Plus is the fourth largest producer of natural gas in Italy active in the main sectors of natural gas industry which holds 10% interest in the concession. Petro Ventures a private investment group, holds 20% interest in the concession.
The Black Sea Trade and Development Bank is an international financial institution established by Albania, Armenia, Azerbaijan, Bulgaria, Georgia, Greece, Moldova, Romania, Russia, Turkey, and Ukraine. The BSTDB headquarters are in Thessaloniki, Greece.
($=0.8331 euro)