Grup Servicii Petroliere plans EUR 1.2 bln investments in ships, platforms

Newsroom 19/09/2014 | 17:03

Romanian Grup Servicii Petroliere (GSP), a provider of offshore services for oil companies, plans to investment EUR 1.2 billion in buying ships and drilling platforms, reports Mediafax newswire.

The company, which is controlled by Romanian businessperson Gabriel Comanescu, has already bought this year three ships designed to assist offshore platforms. The ships were built in China and each of them had a cost of USD 35 million.

The newly acquired ships will work for Lukoil, which has an exploration program in the Black Sea. The Russian oil company has already placed an offshore drilling platform in the Constanta Harbor.

GSP’s acquisition was financed by two Chinese lenders and the company plans to buy another ship this year or in early 2015. The company aims to buy eight ships in total, and the next four will be acquired next year, each requiring an investment of USD 70 million.

In addition, the services company is looking to invest USD 600 million in a new deep offshore drilling platform and another platform worth USD 200 million.

GSP, a member of Upetrom Group, estimates it will reach a turnover of around USD 400 million this year.

Ovidiu Posirca

Photo courtesy of GSP



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