Japanese banks to provide loan of $900 mln to Sakhalin-1

The Skhalin-1 project.

The Skhalin-1 project.

ITAR-TASS
The proceeds will be used to finance the Odoptu Field Stage-2 development.

Japan Bank of International Cooperation and Japanese Sakhalin Oil and Gas Development Co, Ltd (SODECO) signed an agreement on March 22 for a loan of up to $450 million.

The loan is co-financed by Mizuho Bank, Ltd., Sumitomo Mitsui Banking Corporation and Sumitomo Mitsui Trust Bank, Limited, with co-financing totaling up to $900 million.

The proceeds will be used to finance the Odoptu Field Stage-2 development, part of the Sakhalin-1 project in which SODECO is participating.

Read more: Japan, India top Asian investors in Russia - Eurasian Development Bank

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