EBRD supports Petrolinvest operations in Kazakhstan.

By bne IntelliNews March 12, 2010
The EBRD approved USD 50mn convertible loan to Petrolinvest to finance the completion of exploration work at the Kazakh fields. Petrolinvest is a Polish company listed on the Warsaw Stock Exchange. The company through its Kazakh subsidiaries holds 5 exploration contracts for a total area of over 13,200 km2, located in petroleum-rich regions, the bank has stated. The loan will be used to finalize exploration at the companys 2 most advanced sites in Kazakhstan . The completion of exploration will enable Petrolinvest to find out size of the reserves and to start production. The decision of the EBRDs Board of Directors is the result of many months of detailed analyses performed by the Banks experts on the Petrolinvests exploration works in Kazakhstan .

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