With Funding of $1.63 Billion, SBM Offshore Project Will "Design" Brazil's Largest Oil Producing FPSO

With Funding of $1.63 Billion, SBM Offshore Project Will “Design” Brazil’s Largest Oil Producing FPSO

Written by Roberta Souza

Published on 03/04/2023 at 21:39

Foto: Reprodução adaptada google imagens/Almirante Tamandaré

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The FPSO Project, Named “Almirante Tamandaré,” Had Its Financing Agreement Concluded by SBM Offshore and Will Have a Production Capacity of 225 Thousand Barrels of Oil per Day

The new SBM Offshore oil production FPSO project had its financing concluded by the company in the last week of March, with an amount of no less than US$ 1.63 BILLION, provided by a consortium of 13 international banks, which secured the deal with insurance coverage from 4 international export credit agencies. Within the exorbitant financing amount for the FPSO project are included 5 items, as well as a post-completion maturity of 14 years for the credit lines and a weighted average cost of debt of 6.3%, according to the Portos e Navios website.

The SBM Offshore FPSO project will be implemented in the Búzios Field in the Santos Basin, approximately 180 kilometers off the coast of Rio de Janeiro. The FPSO will be on a lease period of 26.25 years in operation with Petrobras, according to the contract made between the companies. Currently, Petrobras is operating the Búzios field in partnership with CNODC and CNOOC.

The SBM Offshore FPSO will be the largest oil producer in Brazil, incorporating the new multi-purpose hull Fast4Ward, which is a leader in SBM’s industry. The new FPSO will be capable of producing up to 225 thousand barrels of oil and 12 million m³ of gas per day. Additionally, the FPSO is sustainable to some extent, as it will emit a greenhouse gas intensity below 10 kgCO2e/boe1 and will feature technologies that reduce gas emissions, such as closed flare, which increases gas utilization, preventing it from being burned in the atmosphere.

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With Funding of $1.63 Billion, SBM Offshore Project Will “Design” Brazil’s Largest Oil Producing FPSO

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With Funding of $1.63 Billion, SBM Offshore Project Will “Design” Brazil’s Largest Oil Producing FPSO

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