Overview

China Eximbank provides a $100 million USD loan to Frontier Drilling ASA for the procurement of an ultra-deepwater drill ship

Commitments (Constant USD, 2023)$102,555,318

Commitment Year•2014Country of Activity•NorwayDirect Recipient Country of Incorporation•NorwaySector•Industry, Mining, ConstructionFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Jun 1, 2014

Stakeholders

Organizations involved in projects and activities supported by financial and in-kind transfers from Chinese government and state-owned entities

Ultimate beneficial owners

At least 25% host country ownership

Funding agencies

State-owned Policy Banks

Export-Import Bank of China (China Eximbank)

Receiving agencies

Private Sector

Frontier Drilling ASA

Loan description

China Eximbank provides a $100 million USD loan to Frontier Drilling ASA for the procurement of an ultra-deepwater drill ship

Interest type•Unknown

Narrative

Full Description

Project narrative

Prior to June 2014, the Export-Import Bank of China provided a $100 million USD loan to Frontier Drilling ASA — a Norwegian oil field services company focused on operating conventionally moored drillships and floating production storage and offloaders (FPSOs) — for the procurement of an ultra-deepwater drill ship.

Staff comments

1. The precise loan commitment date is unknown. For the time being, AidData relies on the date of the publication (June 2014) that references the loan as a proxy. This issue warrants further investigation.