Carimin Secures $17M in Project Financing for an Accommodation Work Boat

Carimin Petroleum Berhad disclosed Wednesday that its subsidiary Carimin Acacia Offshore Sdn Bhd (CAOSB) has accepted a project financing facility of up to $17 million (MYR 70 million) from Malaysia Debt Ventures Berhad for the purpose of part financing an accommodation work boat, the firm said in a filing on local stock exchange Bursa Malaysia.

CAOSB is a provider of marine related offshore and onshore support services in the oil and gas industry, including the charter of offshore supply vessels. 

According to Carimin, the financing facility is not expected to have any effect on its issued and paid-up share capital and substantial shareholders’ shareholdings.

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