SBM Offshore completes US$1.63 billion financing of Almirante Tamandaré
SBM Offshore has successfully secured project financing of US$1.63 billion for the FPSO Almirante Tamandaré, aided by a consortium of 13 international banks and covered by 4 Export Credit Agencies (ECA). The financing encompasses five facilities with a weighted average cost of debt around 6.3% and a maturity period of 14 years post-completion. The FPSO, designed with SBM Offshore’s Fast4Ward® hull, will be Brazil's largest oil-producing unit, boasting a capacity of 225,000 barrels of oil and 12 million m³ of gas per day. It will operate under a 26.25-year contract with Petrobras at the Búzios field.
- Secured financing of US$1.63 billion enhances liquidity for large-scale projects.
- Collaboration with 13 international banks signifies strong market confidence.
- The FPSO's capacity of 225,000 barrels of oil/day positions it as a leading asset in Brazil.
- Deployment of advanced emission reduction technologies aligns with sustainable practices.
- None.
March 31, 2023
SBM Offshore is pleased to announce it has signed the project financing of FPSO Almirante Tamandaré for a total of US
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.
The FPSO’s design incorporates SBM Offshore’s industry leading Fast4Ward® new build, multi-purpose hull. It will be the largest oil producing 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) emission intensity below 10 kgCO2e/boe1 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 (
Corporate Profile
SBM Offshore designs, builds, installs and operates offshore floating facilities for the offshore energy industry. As a leading technology provider, we put our marine expertise at the service of a responsible energy transition by reducing emissions from fossil fuel production, while developing cleaner solutions for renewable energy sources.
More than 7,000 SBMers worldwide are committed to sharing their experience to deliver safe, sustainable and affordable energy from the oceans for generations to come.
For further information, please visit our website at www.sbmoffshore.com.
| Financial Calendar | Date | Year |
| Annual General Meeting | April 13 | 2023 |
| First Quarter 2023 Trading Update | May 11 | 2023 |
| Half Year 2023 Earnings | August 10 | 2023 |
| Third Quarter 2023 Trading Update | November 9 | 2023 |
| Full Year 2023 Earnings | February 29 | 2024 |
For further information, please contact:
Investor Relations
Ludovic Robino
Investor Relations Manager
| Mobile: | +31 (0) 6 15 16 50 35 |
| E-mail: | ludovic.robino@sbmoffshore.com |
| Website: | www.sbmoffshore.com |
Media Relations
Evelyn Tachau Brown
Group Communications & Change Director
| Mobile: | +377 (0) 6 40 62 30 34 |
| E-mail: | evelyn.tachau-brown@sbmoffshore.com |
| Website: | www.sbmoffshore.com |
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Disclaimer
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. These statements may be identified by words such as ‘expect’, ‘should’, ‘could’, ‘shall’ and similar expressions. Such forward-looking statements are subject to various risks and uncertainties. The principal risks which could affect the future operations of SBM Offshore N.V. are described in the ‘Risk Management’ section of the 2022 Annual Report.
Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results and performance of the Company’s business may vary materially and adversely from the forward-looking statements described in this release. SBM Offshore 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 new information, subsequent events or otherwise.
Nothing in this release shall be deemed an offer to sell, or a solicitation of an offer to buy, any securities. The companies in which SBM Offshore N.V. directly and indirectly owns investments are separate legal entities. In this release “SBM Offshore” and “SBM” are sometimes used for convenience where references are made to SBM Offshore N.V. and its subsidiaries in general. These expressions are also used where no useful purpose is served by identifying the particular company or companies.
"SBM Offshore®", the SBM logomark, “Fast4Ward®”, “emissionZERO®” and “Float4Wind®” are proprietary marks owned by SBM Offshore.
1 Calculated based on nameplate capacity
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FAQ
What is the significance of the US$1.63 billion financing for SBFFF and SBFFY?
When will the FPSO Almirante Tamandaré start operating?
What is the expected production capacity of the FPSO Almirante Tamandaré?
Which companies are involved in the financing of the Almirante Tamandaré project?
How does the Almirante Tamandaré FPSO align with sustainability goals?
