LONDON (Alliance News) - RusPetro PLC on Wednesday said it has reached an agreement with lender PJSC Bank Otkritie Financial Corp to alter the covenants on its loan facilities.
RusPetro, a West Siberia-focused oil and gas development and production company, said the loan covenants on all three facilities with Bank Otkritie have been amended under the agreement.
"This is an important achievement for the group, as it aligns our loan covenants to the group's drilling programme as disclosed in the group's half-year results statement," said John Conlin, RusPetro's chief executive.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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