JBIC Lends Inpex $231M For Kashagan Oil Project

Law360, New York (January 23, 2013, 7:04 PM EST) -- Inpex Corp. on Monday locked in a $231 million loan from the Japan Bank for International Cooperation to put toward its share of developing the 16 billion barrel Kashagan oil field in Kazakhstan's zone of the Caspian Sea.

JBIC's support is tied to its desire to see Japan — one of the world's biggest oil importers — get more of its oil from outside the Middle East, according to a translated statement posted on the export credit agency's website.

"JBIC will continue to contribute to the...
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