SBM Offshore completes $1.63 billion financing for Brazilian FPSO

World Oil Staff April 04, 2023

(WO) — SBM Offshore announced it has signed the project financing of FPSO Almirante Tamandaré for a total of $1.63 billion.

The FPSO’s design incorporates SBM Offshore’s Fast4Ward newbuild, multi-purpose hull. It will be the largest oil producing unit in Brazil with a processing capacity of 225,000 boe and 12 million m3 of gas per day.

The FPSO will have an estimated greenhouse gas (GHG) emission intensity below 10 kgCO2e/boe and will benefit from emission reduction technologies such as the closed flare technology which increases gas utilization, preventing it from being burnt into the atmosphere.

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.

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