FPSO Anna Nery that will operate in the Marlim field for Petrobras will have financing of US$ 400 million

Yinson-Sumitomo obtains a loan from partner banks for the construction of the FPSO Anna Nery for Petrobras' Marlim 2 field in the Campos Basin

Yinson Holdings Bhd and its partner Sumitomo Corporation entered into a US$400 million bridge loan financing agreement for the Anna Nery FPSO Project, a floating, production, storage and offloading (FPSO) vessel for the Marlim field revitalization project of Petrobras, in the Campos Basin.

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In a statement this Friday (18), Yinson said that the bridge loan should be used from October 2020 to support the construction of Petrobras' FPSO Anna Nery and Sumitomo continued to work on closing the financing package for the long term project.

Yinson Group Chief Strategy Officer Daniel Bong said the deal was oversubscribed by participating banks, which is a strong testament to their support for the yinson, despite the challenging Covid-19 situation and the drop in oil prices.

“The support we have received for this deal is indeed strong evidence of the trust the financial community has in Yinson despite the various obstacles exacerbated by the Covid-19 pandemic.

“We are immensely grateful to our partner, Sumitomo, the participating banks and our client, Petrobras, for their unwavering support for this transaction. Through our close working relationship and collaboration, we have successfully achieved the goals of all parties,” Bong said in the statement.

The bridge loan for the FPSO project is supported by Export-import Bank Of Malaysia Bhd; Maybank Investment Bank Berhad and Maybank International Labuan Branch; Mizuho Bank Ltd, Labuan Branch; Natixis, Singapore Branch; Standard Chartered Bank (Singapore) Limited; Sumitomo Mitsui Banking Corporation, Singapore Branch; and The Hongkong And Shanghai Banking Corporation Limited.

About the construction project for the FPSO Anna Nery for Petrobras

According to Petrobras, the FPSO Anna Nery will be installed around 150 kilometers off the Brazilian coast, in a water depth of 930 meters. It will have the capacity to process up to 70.000 bpd of oil and 4 million cbm of natural gas in the Marlim field.

The FPSO is expected to have the first oil by the first quarter of 2023, where it will remain for 25 years. This will be Yinson's first vessel to operate in Brazilian waters. It will have a storage capacity of 1,6 million barrels. It is owned by Yinson (75%) and Sumitomo (25%).