Brazilian shipbuilder OSX Brasil has received a $850m loan to finance the construction and installation of the floating production, storage and offloading vessel (FPSO) OSX-2.

The company has received the loan from the three lead banks ING Groep (INGA), Banco Itau BBA and Banco Santander (SAN).

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In addition to the lead banks, HSBC, Citibank, ABN Amro Bank, Banco do Brasil and NIBC are participating in the syndicate.

The FPSO OSX-2 will be installed in the Campos Basin at OGX’s Waimea prospect and is expected to start production in mid-2013.

The FPSO OSX-2 will have oil production capacity of 100,000 barrels of oil a day and storage capacity of 1,300,000 bbls.

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