Grup Servicii Petroliere concludes USD 44 mln investment in offshore platform

Romania’s Grup Servicii Petroliere (GSP), the provider of services for the oil and gas sector, has finished the modernization and reclassification of its offshore platform GSP Uranus, following a USD 44 million investment.

The company took out a loan close to USD 30 million from EximBank, the export-import bank, to finance this project. Traian Halalai, the lender’s president, said the loan covered the acquisition and modernization of the platform.

“Our development plans include the extension and modernization of the fleet, maintaining the company among the top industry players in the Black Sea and the expansion into new markets. At present, offshore drilling offers significant opportunities, and by finalizing works of the GSP Uranus we take the first steps in achieving our goals,” said Gabriel Comanescu, GSP’s president, in a statement.

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The company said that around 400 Romanian workers were involved in the modernization of GSP Uranus.

GSP’s investments in the last decade hover around EUR 1 billion. The company has worked for oil majors including ExxonMobil and Gazprom.

Ovidiu Posirca