December 28, 2017 / 10:56 AM / in 5 months

Russia's Sberbank, Gazprombank grant $1.7-billion loan to Rosneft/Gazprom Neft project

MOSCOW (Reuters) - Russian lender Sberbank said on Thursday that it and Gazprombank had agreed to provide project financing worth 100 billion rubles ($1.7 billion) to the Vostochno-Messoyakhskoye oil project.

FILE PHOTO: Participants cast their shadows on a board with the logo of Sberbank at the St. Petersburg International Economic Forum (SPIEF), Russia, June 1, 2017. REUTERS/Sergei Karpukhin

The oil project is operated by Russian oil majors Rosneft and Gazprom Neft.

Sberbank said in a statement it would provide 60 billion rubles, and that Gazprombank would cover the remainder of the 10-year financing project.

Reporting by Oksana Kobzeva; Writing by Denis Pinchuk and Polina Devitt; Editing by Andrew Osborn

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