Gulf Oil and Gas accountACCOUNT

OSX Obtains an US$ 850 m Loan for its FPSO OSX-2

Source: 10/26/2011, Location: South America

OSX 2 Leasing B.V., a subsidiary of the OSX Brasil S.A., entered into a facility agreement with a syndicate of international banks lead by ING, Itau-BBA and Santander, related to the granting of a loan in the amount of US$ 850 million, pursuant to the contractual terms, for investment in the construction and installation of the FPSO OSX-2.

The facility was initially underwritten by the three lead banks and thereafter syndicated globally. In addition to the lead banks, the financial institutions participating in the syndicate are: HSBC, Citibank, ABN Amro Bank, Banco do Brasil and NIBC. The general conditions of the loan are: average interest of Libor rates + 4.41 % p.a.; 12-year tenor from the date of the execution of the contract; grace period for principal payment during the construction and installation period; quarterly interest, to be financed during the grace period; and straight-line amortization, until the 12th year, commencing three months after the start of oil production by the unit.

This unit will be built pursuant to the EPCI definitive contract signed in April 2011 between OSX 2 Leasing B.V. and Single Buoy Moorings Inc. (SBM), a world leader in the offshore oil and gas industry. The FPSO OSX-2 will have oil production capacity of 100,000 bopd and storage capacity of 1,300,000 bbls. The FPSO OSX-2 will be chartered by OGX for a period of 20 years, and its final destination will be the Waimea accumulation, in the Campos Basin. Production of first oil is expected mid-2013.

FPSO Vessels and Equipment News in Brazil >>

Nigeria >>  7/16/2019 - Keppel Offshore & Marine Ltd has through its wholly-owned subsidiaries, Keppel FELS Limited (Keppel FELS) and Keppel Shipyard Ltd (Keppel Shipyard), s...
Norway >>  7/15/2019 - Golden Energy Offshore Services AS (GEOS-ME) is pleased to inform that a contract extension has been secured for Energy Swan and Energy Scout. ...

United Kingdom >>  7/11/2019 - Fugro has successfully provided remote positioning services onboard a floating production storage and offloading (FPSO) vessel for Bluewater during a ...
United Kingdom >>  7/9/2019 - The technology group Wartsila has achieved a new technology benchmark with the introduction of the marine sector’s first hybrid installation for a bul...

United Kingdom >>  7/8/2019 - GC Rieber Shipping has entered into a time charter agreement with a European offshore client for the CSV vessel Polar Queen for a period of about 5 mo...
Denmark >>  7/3/2019 - A1 Offshore Solutions ApS in Denmark, a renowned provider of offshore service vessels and KenzFigee, world’s leading supplier of innovative lifting- a...

Related Categories: Diving Contractors  Dredging  FPSO Vessels and Equipment  General  Marine Services  Mooring Systems  Offshore Platforms  Subsea Production 

Related Articles: Diving Contractors  Dredging  FPSO Vessels and Equipment  General  Marine Services  Mooring Systems  Offshore Platforms  Subsea Production 

Brazil Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 |

Oil & Gas Projects in Brazil >>

More News

Related Links

Gulf Oil and Gas
Copyright © Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.