PetroTel selects offshore bank to support Musandam project
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NEW FINANCING: PetroTel’s local subsidiaries PetroTel Oman LLC and PetroTel Oman Offshore LLC operate Block 17 and Block 40 respectively
in Musandam -
MUSCAT, Dec 19 -
National Bank of Oman (NBO) has been selected as the onshore bank for PetroTel Oman LLC, which has just secured a $300 million financing from the US International Development Finance Corporation (DFC) for its oil and gas projects in Oman’s Musandam peninsula.
PetroTel Energy is an exploration and production company headquartered in Texas, USA, PetroTel’s local subsidiaries PetroTel Oman LLC (PTO) and PetroTel Oman Offshore LLC (PTOO) operate Block 17 and Block 40 respectively in Musandam.
PetroTel Oman selects NBO as onshore bank for Musandam oil and gas projects
By: Times News Service
Muscat: National Bank of Oman (NBO) has been selected as the onshore bank for PetroTel Oman, which has just secured a $300 million financing from the US International Development Finance Corporation (DFC) for its oil and gas projects in Oman’s Musandam peninsula.
The selection highlights NBO’s ability to structure tailor-made financing solutions for large-scale and multinational corporations while continuing to support strategically important private sector organisations that are instrumental for the future growth of the economy.
Asif Redha, Head of Global Transaction Banking at NBO, said, “NBO is always ahead in the market by providing innovative technological solutions to international and local businesses. Our Corporate Internet Banking and B2B channels are at the forefront of helping institutions to leverage their cash flows and optimise their resources and have made us th