Roc Oil secures A$163 million pre-development funding for Malaysian oil and gas project


Dateline 2012-05-17:

Roc Oil (ASX: ROC) and its Balai Cluster Risk Service Contract partners in Malaysia have secured US$162 million (A$163 million) in project financing for the pre-development of the project offshore Sarawak.

Sumitomo Mitsui Banking Corporation, Standard Chartered Bank and CIMB Bank Berhad are the lead arrangers of the loan, which matures on 16 December 2014.

Roc has a 48% stake in the project and has thus far directly contributed US$30 million to the project, which is well along its pre-development phase. Total cost of the pre-development phase is estimated to be between US$200 to US$250 million.

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This entry was posted on Tuesday, June 12th, 2012 at 6:00 am and is filed under business opportunity, Malaysia, oil and gas. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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