SBM Offshore awarded Letter of Intent for FPSO Almirante Tamandaré lease and operate contract by Petrobras
SBM Offshore has signed a Letter of Intent (LOI) with Petrobras for a 26.25-year lease and operation of the FPSO Almirante Tamandaré at the Búzios field, offshore Brazil. This FPSO will be the largest oil-producing unit in Brazil and among the largest globally, with a daily capacity of 225,000 barrels of oil and 12 million m3 of gas. The FPSO will utilize SBM Offshore’s Fast4Ward® program for its design and construction. Delivery is anticipated in the second half of 2024.
- Secured LOI from Petrobras for a 26.25-year contract.
- FPSO Almirante Tamandaré will be the largest oil-producing unit offshore Brazil.
- Daily processing capacity of 225,000 barrels of oil demonstrates significant operational capability.
- Use of Fast4Ward® program indicates innovation and efficiency in project execution.
- None.
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”.
Corporate Profile
The Company’s main activities are the design, supply, installation, operation and the life extension of floating production solutions for the offshore energy industry over the full lifecycle. The Company is market leading in leased floating production systems, with multiple units currently in operation.
As of December 31, 2020, the Company employed approximately 4,570 people worldwide spread over offices in our key markets, operational shore bases and the offshore fleet of vessels.
SBM Offshore N.V. is a listed holding company headquartered in Amsterdam, the Netherlands. It holds direct and indirect interests in other companies.
Where references are made to SBM Offshore N.V. and /or its subsidiaries in general, or where no useful purpose is served by identifying the particular company or companies “SBM Offshore” or “the Company” are sometimes used for convenience.
For further information, please visit our website at www.sbmoffshore.com.
The Management Board
Amsterdam, the Netherlands, February 25, 2021
| Financial Calendar | Date | Year |
| Annual General Meeting | April 7 | 2021 |
| Trading Update 1Q 2021 – Press Release | May 12 | 2021 |
| Half Year 2021 Earnings – Press Release | August 5 | 2021 |
| Trading Update 3Q 2021 – Press Release | November 11 | 2021 |
| Full Year 2021 Earnings – Press Release | February 10 | 2022 |
For further information, please contact:
Investor Relations
Bert-Jaap Dijkstra
Group Treasurer and IR
| Telephone: | +31 (0) 20 236 3222 |
| Mobile: | +31 (0) 6 21 14 10 17 |
| E-mail: | bertjaap.dijkstra@sbmoffshore.com |
| Website: | www.sbmoffshore.com |
Media Relations
Vincent Kempkes
Group Communications Director
| Telephone: | +31 (0) 20 236 3170 |
| Mobile: | +31 (0) 6 25 68 71 67 |
| E-mail: | vincent.kempkes@sbmoffshore.com |
| Website: | www.sbmoffshore.com |
Disclaimer
This press release contains inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation. Some of the statements contained in this release that are not historical facts are statements of future expectations and other forward-looking statements based on management’s current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance, or events to differ materially from those in such statements. Such forward-looking statements are subject to various risks and uncertainties, which may cause actual results and performance of the Company’s business to differ materially and adversely from the forward-looking statements. Certain such forward-looking statements can be identified by the use of forward-looking terminology such as “believes”, “may”, “will”, “should”, “would be”, “expects” or “anticipates” or similar expressions, or the negative thereof, or other variations thereof, or comparable terminology, or by discussions of strategy, plans, or intentions. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in this release as anticipated, believed, or expected. SBM Offshore NV does not intend, and does not assume any obligation, to update any industry information or forward-looking statements set forth in this release to reflect subsequent events or circumstances. Nothing in this press release shall be deemed an offer to sell, or a solicitation of an offer to buy, any securities.
Attachment
FAQ
What is the significance of SBM Offshore's LOI with Petrobras for the FPSO Almirante Tamandaré?
What is the expected delivery date for the FPSO Almirante Tamandaré?
What are the processing capacities of the FPSO Almirante Tamandaré?
How does the Fast4Ward® program affect SBM Offshore's project for the FPSO Almirante Tamandaré?
What is the duration of the lease and operate contract for FPSO Almirante Tamandaré?
