State-run enterprise Chornomornaftogaz (Simferopol) plans to open a credit line worth UAH 100 million, reads a report on the state procurement Web site.

Bids can be submitted until August 28, 2013. The funds will be raised for one year.

The funds will be used to buy materials, equipment, pay for labor and services provided, and pay bills payable, wages, taxes and other liabilities, and refinance credits.

As reported, earlier Chornomornaftogaz raised a renewable multicurrency credit line in the equivalent of UAH 150 million from Vseukrayinsky Bank Rozvytku (all-Ukrainian Development Bank, VBR Bank, Kyiv).

Chornomornaftogaz in 2012 increased natural gas output by 11.2% or by 118 million cubic meters year-over-year, to 1.174 billion cubic meters. Oil extraction last year grew by 1.7%, to 8,720 tonnes, while gas condensate production fell by 6.45%, to 62,770 tonnes.

Chornomornaftogaz carries out offshore development in the Ukrainian sections of the Black and Azov Seas. The company also produces hydrocarbons at fields in Crimea, and operates the Hlibovske underground gas storage facilities and trunk pipelines on the peninsula. It is wholly owned by Naftogaz Ukrainy.