Viking Services BV

completed

The project proposes to support Viking, an emerging Turkey-based oil and gas services company established in 2012 as a spin off of Transatlantic Petroleum Corporation (a gas company listed in the Toronto and New York Stock Exchange). The Company has three main service lines (all onshore): drilling, well completion, and geophysical. Current operations are mainly located in Turkey, northern Iraq, and central and eastern Europe. IFC is proposing a medium term secured senior investment of US $50 million aimed at supporting the Company’s continuing operations. Viking is seeking to acquire new drilling, seismic and well completion equipment for its current operations in Turkey and northern Iraq as well as for further expansion in North Africa and Eastern Europe. Most of the newly purchased equipment will be initially destined for Turkey, Iraq and, to a lesser extent, North Africa. Business expansion is expected to significantly increase the Company’s operational capacity and allow it to offer a wider range of high-tech services (such as directional drilling) to its customers.