UKEF to loan Petrobras £300m
17 May, 2018
The governmental credit agency UK Export Finance (UKEF) has agreed to lend Brazilian state-owned oil company Petrobras almost £300m.
The line of credit is being provided to finance the procurement of oil and gas related equipment and services from Baker Hughes, a GE company (BHGE), for exploration and production activities offshore Brazil.
BHGE will carry out work including the laying of subsea pipes, the installation of floating production storage and offloading vessels and drilling in the Campos, Espirito Santo and Santos basins.
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