Project Description
The project involves the establishment of a US$50 million revolving credit facility for Adamac Industries Limited (Adamac), one of the largest indigenous oil service contractors in Nigeria. Adamac, through its various wholly owned subsidiaries, provides a range of technical services to the major exploration and production (E&P) oil companies. The revolving line of credit, which would be extended to DSNL Offshore Limited, an Adamac subsidiary that delivers oil field services for offshore facilities, would provide greater flexibility in funding its investment program and working capital needs and enable it to compete with foreign contractors.