Chornomornaftogaz raises another interest-free loan of Hr 3.4 billion from Naftogaz Ukrainy

Chornomornaftogaz (Simferopol, Crimea) has attracted an interest-free loan of Hr 3.396 billion from Naftogaz Ukrainy. According to a company report in the information disclosure system of the National Commission on Securities and the Stock Market, a loan agreement was signed on April 18, 2012.

The loan funds are to be issued until April 17, 2013, and the first tranche of Hr100 000 has been transferred to the bank account of Chornomornaftogaz.
"The loan issued is interest-free, to fund the implementation of priority investment projects, drilling, the development of existing fields, technical development, the repair and modernization of production facilities, and to repay creditor indebtedness," reads a statement.

As reported, in November 2011 Chornomornaftogaz attracted an interest-free loan of Hr 3.24 billion from Naftogaz Ukrainy to purchase a self-elevating floating rig.