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SBM Offshore fixes $1.63bn financing for Brazil-bound FPSO

Dutch floater specialist SBM Offshore has secured $1.63bn project financing for the floating production, storage and offloading (FPSO) vessel Almirante Tamandaré set for Pertobras’ Búzios field in the Santos Basin.

The financing is provided by a consortium of 13 banks, composed of five separate facilities with around 6.3% weighted average cost of debt and a 14-year post-completion maturity.

The FPSO will be the largest oil-producing unit in Brazil, with a processing capacity of 225,000 barrels of oil and 12m cu m of gas per day.

The unit is owned and operated by a special purpose company owned by affiliated companies of SBM Offshore (55%) and its partners (45%). It will operate for Petrobras and field partners CNODC and CNOOC under a 26-year lease agreement.

Adis Ajdin

Adis is an experienced news reporter with a background in finance, media and education. He has written across the spectrum of offshore energy and ocean industries for many years and is a member of International Federation of Journalists. Previously he had written for Navingo media group titles including Offshore Energy, Subsea World News and Marine Energy.
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