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October 31, 2011

OSX Brasil secures loan for FPSO OSX-2

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.

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).

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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