SBM Offshore Lands USD 1.55bn for FPSO Cidade de Saquarema

first_imgzoom Dutch supplier of floating oil platforms SBM Offshore N.V. has secured USD 1.55 billion to finance the construction of FPSO Cidade de Saquarema, the largest project financing in the company’s history.Project financing was secured by a consortium of sixteen international banks with insurance cover from four Export Credit Agencies (ECA): Atradius Dutch State Business N.V. (Atradius), Nippon Export and Investment Insurance (NEXI), Servizi Assicurativi del Commercio Estero S.p.A. (SACE) and UK Export Finance (UKEF).FPSO Cidade de Saquarema is owned and operated by a joint venture owned by affiliated companies of SBM Offshore (56%), Mitsubishi Corporation (20%), Nippon Yusen Kabushiki Kaisha (19%), and Queiroz Galvão Óleo e Gás S.A. (5%).The vessel has processing capacity of up to 150,000 barrels of crude oil and 6 million cubic meters of gas per day, and storage capacity of approximately 1.6 million barrels of crude oil. The joint venture will own and operate the vessel on a 20-year charter service for Tupi B.V.Combined with the USD 1.45 billion project financing of FPSO Cidade de Maricá secured in July 2014, the latest financing agreement pushes the financing for two sister units destined for the Lula field in the pre-salt province offshore Brazil to USD 3 billion .BM-S-11 block is under concession to a consortium comprised of Petrobras (65%), BG E&P Brasil Ltda. (25%), and Petrogal Brasil S.A. (10%).FPSOs Cidade de Maricà and Cidade de Saquarema are expected to be delivered by end 2015 and early 2016, respectively.last_img read more

World No Tobacco Day targets habit that breaks hearts – WHO

Commenting on efforts to encourage people to quit, the UN health expert warned that only around 12 per cent countries are on track to meet global targets to reduce by one-third the number of people dying from non-communicable diseases by 2030, as part of the Sustainable Development Goals agenda.In a bid to promote heart health, the WHO wants every one of its 194 Member States to implement a series of increasingly strict tobacco control measures.These include making indoor public and workplaces smoke-free and insisting that tobacco packaging carries warnings that demonstrate the health risks for users.“The good news is that these deaths are preventable and we know what needs to be done,” Dr. Bettcher said.He named Ireland and Uruguay as countries which had achieved the highest level of tobacco control before adding that since 2007, the number of people around the world to have benefited from these measures has more than quadrupled, from one billion to five billion. Coinciding with World No Tobacco Day 2018, observed each 31 May, the World Health Organization (WHO) is warning that tobacco use and exposure to second hand smoke are “major causes” of cardiovascular disease, contributing to three million deaths a year.The lack of awareness about the risks of tobacco use, is most common in low- and middle-income countries, according to WHO’s Global Report on Trends in Prevalence of Tobacco Smoking 2000-2025.The good news is that these deaths are preventable and we know what needs to be done – Dr. Douglas Bettcher (WHO)In China, for example, more than six out of 10 people are unaware that smoking can cause a heart attack.In India and Indonesia, meanwhile, more than half of all adults do not know that the habit can lead to a stroke.Dr. Douglas Bettcher, Director, Department for the Prevention of Noncommunicable Diseases at WHO, told journalists in Geneva that tobacco use is falling globally but it still kills more than seven million people a year.Progress is uneven in protecting consumers from the tobacco industry, Dr. Bettcher added, explaining that higher income countries are making “faster progress” than their poorer counterparts at protecting consumers, partly owing to stronger regulations.Latest data from the WHO report indicates that there are around 1.1 billion smokers in the world today – the same number as at the turn of the century.Despite the apparent lack of progress in tackling the total number of smokers, the report highlights that only one in five people smoke today, compared to more than one in four, 18 years ago. This decline is masked by the world’s growing population, Dr. Bettcher said. read more