SBM Offshore has divested a stake of 45% in its Almirante Tamandaré floating production storage and offloading (FPSO) vessel to Mitsubishi and Nippon Yusen Kabushiki Kaisha (NYK).
As per the shareholder agreement signed by the parties, Mitsubishi and NYK have acquired stakes of 25% and 20%, respectively, in the special purpose companies associated with the FPSO’s lease and operations.
The two Japanese firms are long standing business partners of SBM Offshore.
SBM Offshore will remain as the operator of FPSO Almirante Tamandaré with a stake of 55%.
Currently under construction, the FPSO is to be deployed at the Búzios field, offshore Brazil under a 26.25-year lease and operate contract with Petróleo Brasileiro (Petrobras). The contract was awarded to the Dutch FPSO operator in July 2021.
FPSO Almirante Tamandaré will use SBM Offshore’s Fast4Ward programme for its design and construction. The vessel will incorporate the Dutch firm’s multi-purpose floater (MPF) hull combined with various standardised topsides modules.
The vessel is expected to be delivered in the second half of 2024.
The FPSO will have a processing capacity of 225,000 barrels of oil and 12 million m3 of gas per day. It will have a daily water injection capacity of 250,000 barrels and a minimum storage capacity of 1.4 million barrels of crude oil.
It will be spread moored in nearly 2,000m water depth.
Last September, SBM Offshore secured a bridge loan facility of $635m for the financing of the construction of the FPSO.
To be located nearly 180km off the coast of Rio de Janeiro, Almirante Tamandaré will be the sixth FPSO to be deployed at the Búzios field. The ultra-deepwater oil field in Santos Basin has been producing since 2018.
