[Brazil] Buzios 6 - FPSO Almirante Tamandaré

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escveritas
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[Brazil] Buzios 6 - FPSO Almirante Tamandaré

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SBM Offshore awarded Letter of Intent for FPSO Almirante Tamandaré lease and operate contract by Petrobras

February 25, 2021

SBM Offshore is pleased to announce that it has signed a Letter of Intent (LOI) together with Petróleo Brasileiro S.A. (Petrobras) for a 26.25 years lease and operate contract for the FPSO Almirante Tamandaré, to be deployed at the Búzios field in the Santos Basin approximately 180 kilometers offshore Rio de Janeiro in Brazil.

Under the contract, SBM Offshore is responsible for the engineering, procurement, construction, installation and operation of the FPSO. SBM Offshore will design and construct the FPSO Almirante Tamandaré using its industry leading Fast4Ward® program as it incorporates the Company’s new build, Multi-Purpose Floater (MPF) hull combined with several standardized topsides modules. SBM Offshore’s fourth Fast4Ward® MPF hull has been allocated to this project.

The FPSO will be the largest oil producing unit operating offshore Brazil and one of the largest in the world, with daily processing capacity of 225,000 barrels of oil and 12 million m3 of gas. Furthermore, the FPSO will have a water injection capacity of 250,000 barrels per day and a minimum storage capacity of 1.4 million barrels of crude oil. The FPSO will be spread moored in approximately 2,000 meters water depth. Delivery of the FPSO is expected in the second half of 2024.

Bruno Chabas, CEO of SBM Offshore, commented:

“SBM Offshore is proud to announce that Petrobras has awarded the Company the LOI for the 6th FPSO development in the world class Búzios field in Brazil. This award for one of the largest production units in the world demonstrates the trust placed in our ability to reliably deliver large-scale FPSOs and the agreement again confirms the significant value we bring to our clients with our industry leading Fast4Ward® program. SBM Offshore teams look forward to starting the execution phase in order to continue to deliver value to one of our key clients Petrobras”.
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Re: [Brazil] Buzios 6 - FPSO Almirante Tamandaré

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SBM Offshore completes US$635 million bridge loan for FPSO Almirante Tamandaré

SBM Offshore is pleased to announce that it has secured a US$635 million bridge loan facility for the financing of the construction of FPSO Almirante Tamandaré.

The facility was secured by the special purpose company which will own FPSO Almirante Tamandaré. Currently, SBM Offshore is the sole owner of this special purpose company. Discussions around the divestment of 45% of the equity ownership to partners continue to progress.

The facility will be fully drawn in the coming days to finance the ongoing construction of the FPSO Almirante Tamandaré. The tenor of the bridge loan is twelve months with an extension option for another six months. Repayment is expected to take place upon closure and first drawdown of the project loan.
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Re: [Brazil] Buzios 6 - FPSO Almirante Tamandaré

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SBM Offshore divests minority interest in FPSO Almirante Tamandaré project

Following the announcement on July 27, 2021 with respect to the signature of the contracts for the FPSO Almirante Tamandaré, SBM Offshore is pleased to announce that it has entered into a shareholder agreement with its long standing business partners Mitsubishi Corporation (MC) and Nippon Yusen Kabushiki Kaisha (NYK).

MC and NYK have acquired a respective 25% and 20% ownership interest in the special purpose companies related to the lease and operation of the FPSO Almirante Tamandaré. SBM Offshore is the operator and will remain the majority shareholder with 55% ownership interest.

FPSO Almirante Tamandaré is currently under construction. 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). First oil is expected in the second half of 2024. Petrobras is operating the Búzios field in partnership with CNODC and CNOOC.
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Re: [Brazil] Buzios 6 - FPSO Almirante Tamandaré

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TechnipFMC Awarded Large EPCI Contract by Petrobras for Búzios 6 Field

NEWCASTLE & HOUSTON, January 24, 2022 — TechnipFMC (NYSE: FTI) (PARIS: FTI) has been awarded a large(1) subsea Engineering, Procurement, Construction and Installation (EPCI) contract by Petrobras for its Búzios 6 field (module 7), a greenfield development in the pre-salt area.

The contract covers flexible and rigid pipe, umbilicals, pipeline end terminals, rigid jumpers, umbilical termination assemblies and a mooring system.

Jonathan Landes, President, Subsea at TechnipFMC, commented: “We are excited to announce this award, which demonstrates the continuing strength of the subsea market in Brazil and our collaborative relationship with Petrobras. We used our deep understanding of the client’s needs to arrive at technological solutions developed specifically for the Buzios 6 field.”

The flexible pipe, umbilicals and subsea structures, as well as some of the rigid pipe, will be manufactured in Brazil using skills and competencies the Company has developed in-country, while minimizing the carbon footprint associated with transportation and installation. The project will also utilize our established and qualified Brazilian supply chain.

(1) For TechnipFMC, a “large” contract is between $500 million and $1 billion.

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Re: [Brazil] Buzios 6 - FPSO Almirante Tamandaré

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SBM Offshore completes US$1.63 billion financing of Almirante Tamandaré

Mar 31 2023



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.

The FPSO's design incorporates SBM Offshore's industry leading Fast4Ward® new build, multi-purpose hull.multi-purpose hu It will be the largest oil producing oil unit in Brazil with a processing capacity of 225,000 barrels of oil and 12 million m3 of gas per day. The FPSO will have an estimated greenhouse gas (GHG) mission intensity below 10 kgCO2e/boe[1] 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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