Business

Banks finance offshore floating vessel renovation

A group of Vietnamese banks has agreed to finance the Singaporean PVKEEZ company’s project to revamp a floating production, storage and offloading unit of the Chim Sao oilfield in offshore Vietnam.
A group of Vietnamese banks has agreed to finance the Singaporean PVKEEZcompany’s project to revamp a floating production, storage andoffloading unit of the Chim Sao oilfield in offshore Vietnam.

Acontract on the 227 million USD loan, which has a term of six yearswith two grace years, was signed in Hanoi on July 21.

As theloan is the first for a foreign joint venture company in Vietnam,four local and international law firms were hired to prepare thecontract.

PVKEEZ is partnered by the Oil and Gas Transport JointStock Corporation, EOC Limited, Ezra Holding Limited and KSI ProductionPte. Ltd./.
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