SBM Offshore holds naming ceremony for enormous Brazil-bound FPSO (Gallery)

Dutch FPSO operator SBM Offshore has formally named a floating manufacturing, storage, and offloading (FPSO) vessel destined to work at a large subject off the coast of Brazil for the nation’s state-owned power heavyweight, Petrobras.

After acquiring a binding letter of intent (LoI) in February 2021, SBM Offshore inked contracts with Petrobras for the 26.25-year lease and operation of the FPSO Almirante Tamandaré in July 2021. The agency secured a $635 million bridge mortgage facility for the financing of the development of the FPSO in September 2021. In the beginning of 2022, the corporate bought a minority stake within the vessel to 2 Japanese firms.

In March 2023, the Dutch participant accomplished the FPSO’s undertaking financing with a complete of $1.63 billion obtained from a consortium of 13 worldwide banks with insurance coverage cowl from 4 worldwide Export Credit score Companies (ECA). The floating unit proprietor beforehand described the vessel as the biggest oil-producing unit working offshore Brazil and one of many largest on this planet.

SBM Offshore has now held the naming ceremony for the FPSO Almirante Tamandaré. The agency explains that the unit carries a reputation “wealthy with historic significance and nationwide satisfaction.” Joaquim Marques Lisboa, Marquis of Tamandaré, was a Nineteenth-century army hero and admiral of Brazil’s Imperial Military.

Oivind Tangen, SBM Offshore’s CEO, commented: “FPSO Almirante Tamandaré marks one other chapter within the partnership between SBM Offshore and our key stakeholders. The groups delivered each glorious HSSE efficiency all through the undertaking and an FPSO of top quality. We’re proud to have her be a part of the SBM Offshore fleet.”

The FPSO’s design incorporates SBM Offshore’s Fast4Ward new construct, multi-purpose hull, which was nearing completion on the yard in February 2023. With a processing capability of 225,000 barrels of oil and 12 million m³ of gasoline per day, the unit may have an estimated greenhouse gasoline (GHG) emission depth beneath 10 kg CO2e/boe. The primary oil is slated for 2024.

The FPSO Almirante Tamandaré, which is owned and operated by a particular objective firm owned by affiliated firms of SBM Offshore (55%) and its companions (45%), might be deployed on the Búzios subject within the Santos Basin about 180 kilometers offshore Rio de Janeiro in Brazil. Petrobras is working the subject in partnership with CNODC and CNOOC.