The International Finance Corportation (IFC), a subdivision of the World Bank, has approved a $35 million credit line for GAC in support of its maritime operations in Kazakhstan, Africa and the Middle East.

GAC outlined plans to invest in six new supply vessels to support the regional offshore oil and gas industry, three of which will operate in Kazakhstan.

The $35 million loan will also provide the requisite funds to invest in new training and development programmes to ensure the vessels operate to optimum safety and efficiency standards.

Commenting on the deal, Anita George, the IFC's director for infrastructure, said GAC has demonstrated consistent expertise in the maritime support industry.

"The project will have significant development impact in terms of greater efficiency, safety and training and transfer of industry best practices to local staff," she added.

GAC offers a range of offshore support services, including pipe towing, anchor handling and personnel transport.

Oil and Gas Directory: Training and Development