SBM Offshore has signed an agreement with a consortium of 12 international banks to finance the Alexandre de Gusmão FPSO project. Financing in the amount of $1.615 billion is additionally secured by three international export credit agencies (ECAs).
The financing consists of four separate facilities with a ca. The weighted average cost of debt of 6.6 percent and a post-completion maturity of 14 years for both ECA’s covered and non-covered facilities, the company said.
The FPSO design incorporates SBM Offshore’s “industry-leading” Fast4Ward multipurpose hull, SBM Offshore noted. The FPSO will have a processing capacity of 180,000 barrels of oil and 12 million cubic meters of gas per day, SBM Offshore highlighted in its statement, adding that it will have a greenhouse gas emission intensity (GHG ) estimated between 8 and 12. kgCO2e/boe1 for the company’s newbuild FPSOs, “leveraging proprietary emission reduction technologies.”
FPSO Alexandre de Gusmão is owned and operated by special purpose vehicles owned by companies affiliated with SBM Offshore (55%) and its partners (45%). The FPSO will be deployed in the unitized Mero field located in the Santos Basin about 160 kilometers (99.4 miles) offshore from Rio de Janeiro in Brazil under a 22.5-year operating lease with Petróleo Brasileiro SA (Petrobras).
The unified Mero field is operated by Petrobras (38.6%), in collaboration with Shell Brasil (19.3%), TotalEnergies (19.3%), CNPC (9.65%), CNOOC (9, 65%) and Pré-sal Petróleo SA – PPSA (3.5%). percentage), representing the government in the non-contracted area.
The funding for FPSO Alexandre de Gusmão follows shortly after FPSO Sepetiba, SBM Offshore’s third Fast4Ward FPSO, moved away from the BOMESC shipyard in China after successfully completing the integration phases of topsides and ground start-up.
The FPSO has begun its transit to the Mero field in the Santos Basin off the coast of Brazil, located 180 kilometers (111 miles) offshore from Rio de Janeiro. SBM Offshore has a contract with Petróleo Brasileiro SA (Petrobras) for the lease and operation of FPSO Sepetiba for 22.5 years. First oil is expected in the second half of 2023.
The FPSO will have the capacity to produce up to 180,000 barrels of oil per day and a storage capacity of 1,400,000 barrels of oil, the company recalled.
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