EximBank and Grup Servicii Petroliere- partners in an investment project of more than 44 million USD

Constanta, March 7, 2014 – EximBank and Grup Servicii Petroliere (GSP) organized today an event to present the GSP Uranus off shore drilling unit – an investment project of more than 44 million USD financed from the company’s own resources and funds from the bank.

The event marks the finishing of the revamping and re-classification procedures of the GSP Uranus off shore drilling unit and took place at the GSP Shipyard, located in Constanta Sud-Agigea Shipyard, being attended by local and central authorities’ representatives as well as business community leaders.

”The partnership we have with Grup Servicii Petroliere is of high importance to us and we are delighted to be part of such an extended project that will support the development plans of one of the most successful Romanian companies. We are looking now at a 100% Romanian investment project since both GSP and EximBank are entirely local companies. This project demonstrates once more that EximBank is fully capable of supporting projects of high impact in priority economic domains such is the energy, for instance.”, said Traian Halalai, President of EximBank.
He added that EximBank involvement in this partnership is represented by the granting of a total financing line of almost 30 million USD that has been used for purchasing and modernizing the off shore drilling unit.

Almost 400 persons have been working for modernizing the GSP Uranus off shore drilling unit, all employees being Romanian: mechanics, welders, piping men. The yard’s team has been strengthened by graduates in naval technology working as specialists and naval designers.

”Our development plans include the expansion and modernization of our fleet, keeping our company among the top players in our industry in the Black Sea and accessing new markets. Off shore drilling is offering special opportunities now and by finishing the works on GSP Uranus we are doing the first step towards achieving our targets. We do hope to continue working with EximBank since it is a bank that we consider a top partner for Grup Servicii Petroliere”, said Gabriel Comănescu, President of Grup Servicii Petroliere.

The GSP representative said that this investment is adding up to the previous projects amounting at more than 1 billion Euro, implemented during the 10 years of company’s activity which transformed GSP – a Romanian company- into an international player.

About EximBank
EximBank is a specialized institution whose threefold product portfolio focused on financing, guarantee and insurance, enables it to grant assistance to current activities and development of exporters, SME-s and companies involved in projects pertaining to key economic sectors, particularly those contributing to the absorption of EU funds. As per preliminary financial results, the bank registered a net profit of almost 50 million lei at the end of 2013, four times higher than in 2012, an achievement reached under the circumstances of improving the commercial activity and efficient resources management. EximBank has increased its total exposure by 30% as compared to last year, up to almost 5 billion lei, operating an extended network with 10% less staff. During last year, the bank has developed its client’ portfolio by closing deals with some of the most representative players in the Romanian economy such as Grup Servicii Petroliere, Alro, Antibiotice Iaşi, Agricover IFN, Adrem Invest or Romcab.

Additional info:
Miruna Lebedencu
+40 21 405 30 90

About Grup Servicii Petroliere
Grup Servicii Petroliere (GSP) is an integrated service provider for the gas and oil offshore industry, covering the following fields: offshore drilling, subsea construction, hydro technical construction, sea transportation, search and rescue services on sea, pollution intervention and training. GSP is operating a vast fleet including 7 mobile offshore drilling units, 10 multifunctional vessels, 3 sea construction units and 2 high tonnage floating cranes. During the 10 years of existence, the company has been involved in international projects in the Black Sea, Mediterranean Sea, North See, Persian Gulf and Mexico Gulf as well as in the arctic areas. Some of GSP clients are Petrom OMV, ExxonMobil, Gazprom, TPAO, PEMEX, Petroceltic or Wintershall.

Additional info:
Diana Lalu
+40 21 308 02 00