The Japanese group Sumitomo is forming a partnership with Yinson to acquire 25 percent of the FPSO Marlim 2, from Petrobras’ revitalization project in the Campos Basin, in Rio de Janeiro. Another good piece of news! Licensing for up to 17 oil wells is progressing through ExxonMobil, in the Campos and Santos basins
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Yinson owns the remaining stake. The partners plan to charter the FPSO for 25 years with first oil expected in 2023.
The conclusion of the conversion work on the ship will be in Qidong, China.
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The ship will be installed in the Marlim oil field in the Campos Basin, about 130 km off the coast of Rio de Janeiro.
The FPSO will have the capacity to process about 70,000 b/d of crude oil and 4mn m³/d of natural gas.
The Marlim agreement continues the partnership between the companies in the FPSO and in the floating storage and unloading ventures agreed upon in April 2018.
Sumitomo and Yinson have been working together in Italy’s Eni’s Offshore Cape Three Points block in Ghana since June 2017.
Petrobras’ Gross Debt for 2020 is $87 Billion
Due to the impacts resulting from the new coronavirus and the shock of oil prices, Petrobras informed yesterday, April 28, that it expects to conclude 2020 with gross debt of $87 billion, the same level as the closing of 201
The target set by Petrobras’ Board of Directors approved the revision of the top debt metric in the 2020-2024 Strategic Plan, replacing the net debt/EBITDA indicator with the gross debt indicator.
It is worth noting that the company continues to pursue a reduction of gross debt to US$ 60 billion. This amount is in line with the new dividend policy already announced, which provides for an increase in shareholder remuneration when gross debt reaches or falls below this level.

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