Petrobras signs agreement with Japan to fund construction and conversion of FPSO
Petrobras has signed an agreement with Japanese export credit agency Nippon Export and Investment Insurance (NEXI) and Mizuho Bank to issue a loan guarantee for the sum of US$500 million assigned for projects to build and convert 12 floating production, storage and offloading (FPSO) platform hulls to be used in Brazil.
On Friday, August 1, at the Planalto Palace in Brasília, the previously signed documents were formally exchanged in the presence of Brazilian President Dilma Rousseff, Japanese Prime Minister Shinzo Abe, Petrobras CEO Maria das Graças Silva Foster, NEXI CEO Kazuhiko Bando, and Mizuho Bank Executive Manager Hiroshi Suchiro.
The platforms are being built to develop pre-salt projects in the Santos Basin. Eight of them are assigned to blocks BM-S-9 and BM-S-11, while the remaining four will be used in the onerous concession areas (Cessão Onerosa).
Pre-salt now represents slightly more than 20% of Petrobras’ oil production in Brazil. According to the company’s Business and Management Plan, pre-salt will account for around 50% of its production in 2020. By this date, Petrobras plans to have doubled its output to 4.2 million barrels of oil per day.
Country news
-
-
August 14, 2014
ContourGlobal acquires wind farms in Brazil
ContourGlobal, an international power generation company, has acquired an additional 122.6 MW of installed wind capacity in Brazil through a transaction with Casa dos Ventos. Read more -
August 29, 2014
GDF Suez acquires wind projects in Brazil
Tractebel Energia, a subsidiary of GDF SUEZ, has announced that, its Board of Directors have approved the agreement for acquisition of development rights of the Santo Agostinho Wind Farm Complex, by its controlled company, Tractebel Energias Complementares Participações Ltda. (TBLP). Read more -
September 11, 2014
Brazil's Cemig completes Retiro Baixo acquisition
Brazil's power holding Cemig completed, on 5 Sep. 2014 the acquisition of a 49.9% stake in the 82 MW Retiro Baixo hydroelectric power plant (HPP) in Minas Gerais state, Brazil. Read more -
September 18, 2014
Brazil suspends auction for São Luiz do Tapajós hydropower project
Brazil has suspended the sale of rights to develop the 8GW São Luiz do Tapajós hydropower project. Read more -
September 19, 2014
Elecnor and APG close Latin American power transmission joint venture
A subsidiary of Spanish infrastructure and energy developer Elecnor and Netherlands-based APG Asset Management have closed a transaction to jointly own and develop power transmission projects in Latin America. Read more
