SINGAPORE (July 1): KrisEnergy has transferred its revolving credit facility to a single lender, DBS Bank.

In an announcement on Friday, the upstream oil and gas company says that as a result, its previous requirements for the facility’s repayment and cancellation of US$55 million ($74 million) by July 29 and for raising minimum new capital of US$100 million and US$50 million by June 30 and November 30 this year, will no longer apply.

The facility is secured by KrisEnergy’s producing assets in the Gulf of Thailand and in Bangladesh, and development assets in the Gulf of Thailand and in Indonesia.

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