Gazpromneft receives loan for 30 billion rubles from Russian Agricultural Bank

The Russian Agricultural Bank has opened for an unsecured and non-revolving credit line for 30 billion rubles for Gazpromneft, the company’s press centre reports.

The funds will be available for two years, the loan repayment term is 5 years.

The funding will be used for general corporate purposes, including for implementation of the oil company’s investment program in 2015.

Earlier it was reported that the Gazpromneft’s Board of Directors adopted changes in the investment program. The adjusted investment program will make up 337.7 billion rubles that is by 16% more than the previously approved plan.

The main change in the amount of the investment program is connected with increase in the effective share of ownership in SeverEnergy, as well as increased investments in the oil production at traditional and new assets and deposits of Serbian NIS.