SBM Offshore completes $1.6-billion FPSO financing

Multinational

AMSTERDAM, September 16, 2021 – SBM Offshore has completed the largest financing for a single FPSO in the company’s history, the Dutch offshore services provider announced on Thursday.

The FPSO Sepetiba has been financed for USD 1.6 billion by a consortium of 13 international banks.

The 180,000-bopd FPSO is operated with a 65% stake by a special purpose company owned by SBM Offshore’s affiliated companies. The remaining 35% is shared among the company’s partners.

The vessel will be deployed at the offshore Mero field on the Libra block in Brazil.

The block is operated by Petrobras with a 40% share. Shell Brasil and TotalEnergies hold 20% shares each and China Southern Petroleum Exploration and Development Corporation and China National Offshore Oil Corporation hold 10% shares each.

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