A Polish oil company has become the second recipient of European Bank for Reconstruction and Development (EBRD) investment into North Africa’s energy sector, as the bank seeks to ramp up lending in politically instable Middle Eastern countries.

Serinus Energy this week signed a $60mn loan to fund the development of five fields in Tunisia. Serinus, which acquired the assets earlier in 2013, plans to double the fields’ moderate production through a drilling program commencing next year. (CONTINUED - 481 WORDS)