Petrobras secures financing to complete Mexilhão 1 platform

Petrobras' special purpose company (SPC), Companhia Mexilhão do Brasil (CMB), has signed a $221 million bridge loan with the Brazilian Development Bank (BNDES) to finance the end of the construction phase of Mexilhão 1 platform (PMXL-1).

Offshore staff

RIO DE JANEIRO -- Petrobras' special purpose company (SPC), Companhia Mexilhão do Brasil (CMB), has signed a $221 million bridge loan with the Brazilian Development Bank (BNDES) to finance the end of the construction phase of Mexilhão 1 platform (PMXL-1).

Petrobras-operated PMXL-1 will be installed in the Mexilhão field in the Santos basin in 172 m (564 ft) of water, about 145 km (90 mi) off the coast. The platform will be equipped with capacity to process 15 MMcm/d of gas.

The gas produced in Mexilhão will be offloaded and sent through a 34-in. (86-cm) gas pipeline connected to the Monteiro Lobato gas treatment unit (UTGCA) in Caraguatatuba, Brazil. It will then be transported from the Caraguatatuba-Taubaté gas pipeline (Gastau) to market.

12/16/2008

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