The five-year loan will finance the purchase of new high-tech drilling equipment to enable the company to offer modern drilling services.
With this financing, the EBRD is making its first investment in a local independent operator in the oil field services sector in the Kyzyl Orda region in Kazakhstan.
EBRD first vice president Varel Freeman said that EBRD is supporting Zhanros as it adopts modern and more efficient technologies in oil and gas drilling, providing its customers with better and more reliable services.
Zhanros general director Alexei Myltykbaev said that the EBRD supports the next stage of Zhanros’ development which will enable the company to expand in new markets by acquiring work and equipment of international quality.
