Staatsolie Secures $1.6 Billion Loan for Offshore Project
Staatsolie, Surinamese state-owned oil company, secures a $1.6 billion loan to finance its 20% stake in the GranMorgu offshore project. The funds will also repay an existing $130 million loan. The loans were obtained from a consortium of 18 banks and financial institutions.
- Country:
- Suriname
On Wednesday, Staatsolie, a state-owned oil company in Suriname, announced it had secured a substantial $1.6 billion loan from a consortium consisting of 18 banks and financial institutions. This financial boost is intended to support its 20% stake in GranMorgu, which is Suriname's first significant offshore oil project.
The company further disclosed that a portion of the funds would be allocated to settle an outstanding loan of $130 million. This move highlights Staatsolie's commitment to advancing the GranMorgu project, reflecting its pivotal role in the nation's burgeoning oil industry.
The securing of the loan underscores the global financial community's confidence in Suriname's potential in the offshore oil sector, signaling a promising future for the country's economic development in energy resources.
(With inputs from agencies.)
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