Overview

China Eximbank provides RMB 450 million loan for construction of land drilling rig in Libya

Commitments (Constant USD, 2023)$91,384,394

Commitment Year•2009Country of Activity•LibyaDirect Recipient Country of Incorporation•China (People's Republic of)Sector•Industry, Mining, ConstructionFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Apr 1, 2009

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% Chinese ownership

Funding agencies

State-owned Policy Banks

Export-Import Bank of China (China Eximbank)

Receiving agencies

State-owned companies

China Oilfield Services Limited (COSL)

Implementing agencies

State-owned companies

China Oilfield Services Limited (COSL)

Loan description

China Eximbank provides RMB 450 million loan for construction of land drilling rig in Libya

Interest type•Unknown

Narrative

Full Description

Project narrative

In April 2009, China Oilfield Services Limited obtained an RMB 450,000,000 loan from China Eximbank for the construction of a land drilling rig in Libya. The loan repayment was set to begin on April 7, 2011 and reach maturity in 2015, with installments amounting to RMB 90 million annually.