EBRD extends USD 5 mln loan to oilfield developer in Romania

The European Bank for Reconstruction and Development (EBRD) has provided a USD 5 million loan to Expert Petroleum to finance the enhancement of Romanian mature oil and gas onshore fields. The EBRD loan will help Expert Petroleum to optimize its capital structure and invest into energy efficiency upgrade and production enhancement projects. The bank’s investment will contribute to make the oil and gas assets operated by the company safer, cleaner, more productive and more viable for longer time. Expert Petroleum is specialized in mature oil and gas fields operations optimization, workforce development, energy efficiencies, production and reserves enhancement. The company operates 18 mature oil and gas fields with 400 producing wells in Romania, employing over 1000 people. It is part of the Jordanian GMS Holdings group. editor@romania-insider.com