SBM seals $1.6 billion funding for Buzios FPSO offshore Brazil

Netherlands-based floater specialist SBM Offshore has secured project financing for a large floating production, storage and offloading vessel set to be deployed at the giant Buzios pre-salt field offshore Brazil.

Brazil’s Petrobras in mid-2021 awarded SBM a lease-and-operate contract for the supply of the Almirante Tamandare FPSO to serve the Buzios-7 project in the Santos basin.

SBM has now signed a $1.63 billion funding for the Almirante Tamandare FPSO with a consortium of 13 international banks with insurance cover from four international export credit agencies (ECA).