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SBM is authorized to complete the acquisition of Constellation stake in five FPSOs in Brazil

Written by Paulo Nogueira
Published 22/10/2019 às 13:30

Uncategorized

SBM Constellation FPSOs in Brazil
FPSO Cidade de Paraty sail away from Brasfels shipyard_03.jpg

SBM was already the majority shareholder of the related entities and the operator of these FPSOs and was Constellation's local partner in the dispute for Petrobras' FPSO charter contracts.

The Dutch company SBM Offshore, received approval from Cade this Tuesday, October 22, to consummate the acquisition of the Constellation stake formerly known as Queiroz Galvão Oil and Gas SA. We at Clique Oil and Gas announced this Friday, 18, about the case, click here and understand.

There are a total of 5 Constellation FPSOs operating in Brazil. The Administrative Council for Economic Defense (Cade) approved the transaction, without restrictions.

SBM was already the majority shareholder of the related entities and the operator of these FPSOs and was the local partner of Constellation in the dispute for the Petrobras FPSO charter contracts

The FPSOs are Cidade de Paraty, Cidade de Ilhabela, Cidade de Marica, Cidade de Saquarema and Capixaba. Constellation's interest in each of the FPSOs is 20%, 12,75%, 5%, 5% and 20%, respectively.

“For SBM, it makes sense to acquire the FPSO assets, especially considering the sensitivity of chartering, maintenance and operation of FPSOs and the uncertainty of having an eventual joint venture partner not chosen by SBM and with whom SBM does not have a good relationship” , SBM told the Board.

Constellation starts drilling onshore wells in the Amazon

In the state of Amazonas, Constellation's Probe VIII began operating its contract with Eneva for the drilling of wells in Campo de Azulão. The announcement was made on the company's social network profile on October 17.

The expectation is that 1.000 jobs will be generated in Roraima and another 1.000 jobs in Amazonas in this first phase of the undertaking.

The company declares, “It is a pleasure for us to be able to contribute to Eneva's project for the development and production of gas for energy generation by the new Jaguatirica II thermoelectric plant, to be installed by Eneva, in the municipality of Boa Vista, Roraima”.

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Paulo Nogueira

An electrical engineer graduated from one of the country's technical education institutions, the Instituto Federal Fluminense - IFF (formerly CEFET), I worked for several years in the areas of offshore oil and gas, energy and construction. Today, with over 8 publications in magazines and online blogs about the energy sector, my focus is to provide real-time information on the Brazilian employment market, macro and micro economics and entrepreneurship. For questions, suggestions and corrections, please contact us at informe@clickpetroleoegas.com.br. Please note that we do not accept resumes for this purpose.

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