Kuwait contractor Spetco signs $295m financing deal for JPF 4 upstream project: MEED

RIYADH: Kuwait-based contractor Spetco signed a $295-million financing deal with four banks to finance the $398-million Jurassic Production Facilities 4, also known as JPF 4 upstream oil and gas project, MEED reported citing industry sources.

The financers with whom the deal was signed on June 2 are from both Islamic banks and conventional banks.

Commercial Bank of Kuwait is the lead bank involved in the financing deal, while Warba Bank is the lead bank on the Islamic financing part of the agreement, MEED said.