Dutch floater expert SBM Offshore has signed the project financing of FPSO Alexandre de Gusmão for a total of around $1.61bn.
SBM Offshore said that the project financing was provided by a consortium of 12 international banks with insurance cover from three international export credit agencies (ECA).
The financing is composed of four separate facilities with a ca. 6.6% weighted average cost of debt and a 14-year post-completion maturity for both the ECA-covered facilities and the uncovered facility.
The FPSO’s design incorporates SBM Offshore’s Fast4Ward newbuild, multi-purpose hull. It will have a processing capacity of 180,000 barrels of oil and 12 million cubic meters of gas per day.
The Alexandre de Gusmão is 55% owned and operated by special purpose companies owned by affiliated companies of SBM Offshore while its partners hold a 45% stake in the vessel.
It will be deployed at the Mero unitized field located in the Santos Basin some 160 kilometres offshore Rio de Janeiro, under a 22.5-year lease and operation contract with Brazilian oil and gas major Petrobras.
The Mero unitized field is operated by Petrobras, in partnership with Shell, TotalEnergies, CNPC, CNOOC, and Pré-sal Petróleo S.A. which represents the Brazilian government in the non-contracted area.
SBM Offshore has already secured financing for one FPSO this year. In April, it secured $1.63bn project financing for the FPSO Almirante Tamandaré set for Pertobras’ Búzios field.
