Following the successful start of the cooperation in 2018, BSTDB will provide a loan of up to EUR 90.5 million to Energean Oil and Gas S.A. (Energean), the only Greek oil and gas exploration and production company. The loan proceeds will fund Energean’s investment plans, in particular the development of the Epsilon and Prinos fields and will finance the working capital needs of the company and the finalization of structural expenditures in the Prinos infrastructure complex.

The project will create jobs for suppliers of goods and services in the drilling and construction industries, for key Greek businesses amidst the on-going COVID-19 pandemic.

The project shall also assist the Hellenic Republic to develop exports, will contribute to the development of the local economy, boosting investment and generating additional tax and royalty revenues for the state budget.

The project will be co-financed by a EUR 9.5 million loan from the Greek State subordinated to the BSTDB facility, besides the EUR 90.5 million financing to be granted by BSTDB.