Finance in place for SBM Búzios FPSO

Offshore staff

MONACO — SBM Offshore has secured project financing of $1.63 billion for the FPSO Almirante Tamandaré, which will be deployed at the Búzios Field in the Santos Basin offshore Brazil for Petrobras under a 26.25-year lease and operate contract.

A consortium of 13 international banks is providing the funding with insurance cover from four international export credit agencies (ECA).

The FPSO’s design incorporates SBM Offshore’s Fast4Ward newbuild, multi-purpose hull. This will be Brazil’s largest oil production platform to date, the company added, with a processing capacity of 225,000 bbl/d of oil and 12 MMcm/d of gas.

Closed flare technology, which increases gas use, should support an estimated greenhouse-gas emission intensity of below 10 kgCO₂e/boe.

A special purpose company controlled by affiliates of SBM Offshore (55%) and its partners will own and operate the FPSO.

Petrobras operates the Búzios Field in partnership with CNODC and CNOOC.

04.03.2023