The European Bank of Reconstruction and Development (EBRD) and Energean Oil & Gas have signed a loan agreement worth 75 million US dollars, part of a 200-million-dollar investment in the sea region off the northern Greece port city of Kavala.
According to a relevant announcement, the project is the biggest investment in the oil exploration sector in Greece since the 1980s. Besides the drilling, the project includes the establishment of a new coastal rig to the current Prinos deposit.
Besides Greece, Energean is also active in the Egyptian market.
