IPR gets funding for Egyptian upgrade

Oil exploration and development firm Improved Petroleum Recovery (IPR) Group has signed a $100m loan to upgrade its operations in Egypt.

  • By Michael Turner
  • 21 Jan 2014

The loan is split between a $50m facility from the European Bank for Reconstruction and Development (EBRD) and a $50m tranche from HSBC Egypt. The deal has an accordion structure, which allows extra commitments from the lenders.

The facility will be used for IPR's near term growth strategy, including ...

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