Bank Nizwa signs USD50m financing deal with Hydrocarbon Finder
Bank Nizwa has signed an agreement to provide a structured financing facility of USD50 million to Hydrocarbon Finder (HCF), an independent oil and gas exploration and production company promoted by the Services and Trade Group. The bank’s Sharia-compliant package is tailored to meet the requirements of HCF, which has been granted concession rights by the Government of Oman for oil and gas exploration, development and production within an onshore geographical area in Oman termed as Block 7, said a bank release. (Times of Oman)
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