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VTB finances Saratov Region petroleum project

25 December 2014


VTB bank has opened a four-year RUB 600 million credit line to oil producer RNGK Saratov for the development of the Novo-Aleksandrovskoye hydrocarbon deposit.

Deputy President and Chairman of VTB Bank Management Board Mikhail Oseevskiy said: "VTB has extensive experience in financing mining projects across Russia. By supporting capital-intensive businesses involving specialised infrastructure and advanced technology, we are making a contribution to the development of Russia’s regions."

For reference:

RNGK Saratov is an oil and associated petroleum gas producer based in the Saratov Region. Established in 2006, the company holds the exploration and production license for an area in the northeast of the region. Production at the Novo-Aleksandrovskoye deposit began on 1 September 2012.


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