Ex-Im Bank Helps Finance U.S. Exports to Peru to Support Oil and Gas Exploration and Development

Sep 13, 2004, 01:00 ET from Export-Import Bank of the United States

    WASHINGTON, Sept. 13 /PRNewswire/ -- The Export-Import Bank of the United
 States (Ex-Im Bank) today approved a $15.9 million credit guarantee facility
 to support the sale of U.S. equipment and services to Petro-Tech Peruana S.A.
 of Lima, Peru for oil and gas exploration and development off Peru's northern
     "We are glad to support this project in Peru, which is an important market
 for U.S. exports," said Ex-Im Bank Chairman Philip Merrill.  "The transaction
 will create and sustain high-quality U.S. jobs, and it will also contribute to
 Peruvian economic growth."
     Banco Santander Central Hispano, New York, N.Y., is the Ex-Im Bank-
 guaranteed lender that is providing the medium-term line of credit to Petro-
     Petro-Tech, a wholly owned subsidiary of Petro-Tech International Inc., a
 Delaware-incorporated company located in Houston, will procure the goods and
 services from a variety of U.S. companies to support ongoing operations as
 well as expansion and exploratory activities that may include: 1) exploration
 of the Chira and San Pedro fields, 2) further development of the Block Z-6
 area, 3) upgrade of a petroleum gas cryogenic liquefaction plant north of
 Talara city, and 4) procurement of equipment and services for seismic studies
 in Block Z-6.
     Ex-Im Bank, the official export credit agency of the United States, is in
 its 70th year of helping finance the sale of U.S. exports, primarily to
 emerging markets throughout the world, by providing loan guarantees, export
 credit insurance and direct loans. Ex-Im Bank's current portfolio in Peru
 totals $194 million.  In fiscal year 2003, Ex-Im Bank, an independent federal
 agency, authorized financing to support $14.3 billion of U.S. exports
 worldwide. For more information, visit http://www.exim.gov.

SOURCE Export-Import Bank of the United States