Construction of FPSO Chartered by Petrobras for Operations in Búzios Field Will Include Loan from Japanese Bank

Written by Kelly

Published on 12/08/2020 at 09:33

Unidade de armazenamento flutuante de produção e descarga (FPSO)/ Imagem: Divulgação

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According to the agreement, the Japanese bank JBIC will provide a loan of US$ 491 million to Modec and other companies responsible for the construction of the FPSO Almirante Barroso, commissioned by Petrobras for the Búzios Field

The Japan Bank for International Cooperation (JBIC) has signed an agreement to provide project financing for a floating production, storage and offloading (FPSO) vessel jointly owned by the Japanese companies MODEC, Mitsui & Co, Mitsui O.S.K. Lines (MOL) and Marubeni Corporation, which will be chartered to Petrobras for operations in the Búzios field under a 21-year contract.

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The FPSO Almirante Barroso, which will serve Petrobras, is being built at the COSCO Dalian shipyard in China. This is the seventh FPSO with which the four Japanese companies are collaborating for operations in Brazil.

Under the agreement, JBIC will provide US$ 491 million through its Growth Investment Facility, joining a co-financing of US$ 1.35 billion with MUFG Bank, Sumitomo Mitsui Banking Corporation, Mizuho Bank, ING Bank, SocieteGenerale, Citi Bank, Clifford Capital, Standard Chartered Bank, and BNP Paribas. Nippon Export and Investment Insurance (NEXI) will provide insurance for part of the loan.

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Expectations for the FPSO Almirante Barroso Chartered by Petrobras for Oil and Gas Production in the Búzios Field

The unit, FPSO Almirante Barroso MV32, will be deployed in the Búzios field, located in the vast pre-salt region of the Santos Basin, and is 100% operated by Petrobras.

Starting in 2022, the FPSO will be anchored in waters with a depth of 1,900 meters. The unit will have the capacity to produce up to 150,000 barrels of crude oil per day and 212 million cubic feet of gas per day, as well as store 1.4 million barrels of crude oil.

MODEC sees Brazil as its most important market for the FPSO business, and this latest project will be its twelfth chartering of FPSO vessels for Petrobras.

Construction of FPSO Chartered by Petrobras for Operations in Búzios Field Will Include Loan from Japanese Bank

According to the agreement, the Japanese bank JBIC will provide a loan of US$ 491 million to Modec and other companies responsible for the construction of the FPSO Almirante Barroso, commissioned by Petrobras for the Búzios Field

Read Also

Expectations for the FPSO Almirante Barroso Chartered by Petrobras for Oil and Gas Production in the Búzios Field

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Construction of FPSO Chartered by Petrobras for Operations in Búzios Field Will Include Loan from Japanese Bank

According to the agreement, the Japanese bank JBIC will provide a loan of US$ 491 million to Modec and other companies responsible for the construction of the FPSO Almirante Barroso, commissioned by Petrobras for the Búzios Field

Read Also

Expectations for the FPSO Almirante Barroso Chartered by Petrobras for Oil and Gas Production in the Búzios Field

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While the U.S. still faces limitations in deep space, China is developing unprecedented technology with strategic satellites that maintain communication with the far side of the Moon and aims for dominance by 2030.

In Botswana, a salt flat of up to 16,000 km² that was once an African megalake spends months as an absolute white desert, but during the rainy season it transforms into a shallow sea that reappears from nowhere and can be seen from space in the middle of southern Africa.

With 7.4 trillion tons of artificial snow pumped in 10 years, an extreme operation could stabilize the West Antarctic ice sheet and prevent a sea level rise of more than 3 meters, but it would require snow cannons, ocean water, and energy on an almost industrial scale at the end of the world.

The Blood Falls of Antarctica hide a living ecosystem trapped under the ice for over 2 million years, where microbes survive without light, without oxygen, and without ever having seen the Sun.

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