SBM Offshore completes US$1.615 billion financing of Alexandre de Gusmão

SBM Offshore is pleased to announce it has signed the project financing of FPSO Alexandre de Gusmão for a total of US$1.615 billion.

 

 

 

The project financing is provided by a consortium of 12 international banks with insurance cover from 3 international Export Credit Agencies (ECA). The financing is composed of four separate facilities with a ca. 6.6% 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. It will have a processing capacity of 180,000 barrels of oil and 12 million m3 of gas per day. The FPSO will have an estimated greenhouse gas (GHG) emission intensity within the range of 8-12 kgCO2e/boe

[1]

for the Company’s new build FPSOs, benefiting from proprietary emission reduction technologies.

 

 

 

FPSO Alexandre de Gusmão is owned and operated by special purpose companies owned by affiliated companies of SBM Offshore (55%) and its partners (45%). The FPSO will be deployed at the Mero unitized field located in the Santos Basin approximately 160 kilometers offshore Rio de Janeiro in Brazil, under a 22.5-year lease and operate contract with Petróleo Brasileiro S.A. (Petrobras). The Mero unitized field is operated by Petrobras (38.6%), in partnership with Shell Brasil (19.3%), TotalEnergies (19.3%), CNPC (9.65%), CNOOC (9.65%) and Pré-sal Petróleo S.A. – PPSA (3.5%), representing the Government in the non-contracted area.

 

 

 

 

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

 

 

 

 

Half Year 2023 Earnings

 

 

 

August 10

 

 

 

2023

 

 

 

 

Third Quarter 2023 Trading Update

 

 

 

November 9

 

 

 

2023

 

 

 

 

Full Year 2023 Earnings

 

 

 

February 29

 

 

 

2024

 

 

 

 

Annual General Meeting

 

 

 

April 12

 

 

 

2024

 

 

 

 

First Quarter 2024 Trading Update

 

 

 

May 8

 

 

 

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

 

 

 

 

 

Market Abuse Regulation

 

This press release may contain inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation.

 

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.