Europe's oil and gas sector is building up a crowded pipeline for stock market flotations, but investor appetite is limited given painful experiences after the last oil price crash and a backlash against fossil fuels.
Greek group Energean was one of a handful of energy companies to list in London in recent years, betting on Israeli gas production and long-term offtake agreements.
Greek oil company Energean said on Thursday it has secured a $180 million loan from the European Bank for Reconstruction and Development (EBRD) and other banks to develop the Prinos oil field in the northern Aegean.
It has also agreed a deal for an extension to the existing $75 million EBRD loan facility.
Greece’s Energean Oil & Gas announced on August 30 that its subsidiary Energean Israel, a 50/50 joint venture between Energean and Kerogen Capital, has received approval from the Israeli Petroleum Commissioner for its Field Development Plan (FDP) for the development of the Karish and Tanin natural gas fields, offshore Israel. The FDP application was submitted on 20 June 2017.