Fossil Energy – FPSO SBM Offshore
SBM Offshore is pleased to announce it has signed the project financing of FPSO Almirante Tamandaré for a total of US$1.63 billion.
The project financing is provided by a consortium of 13 international banks with insurance cover from 4 international Export Credit Agencies (ECA).
The financing is composed of five separate facilities with a ca. 6.3% weighted average cost of debt and a 14-year post-completion maturity for both the ECA covered facilities and the uncovered facility.
FPSO Almirante Tamandaré is owned and operated by a special purpose company owned by affiliated companies of SBM Offshore (55%) and its partners (45%).
The FPSO will be deployed at the Búzios field in the Santos Basin approximately 180 kilometers offshore Rio de Janeiro in Brazil, under a 26.25-year lease and operate contract with Petróleo Brasileiro S.A. (Petrobras).
Petrobras is operating the Búzios field in partnership with CNODC and CNOOC.
