SBM Offshore has signed a $400 million non-recourse sale and leaseback financing agreement for the FPSO Cidade de Paraty, expected to be finalized by April 2025.
Target Information
The FPSO Cidade de Paraty is a floating production storage and offloading (FPSO) unit owned by a special purpose company, which is a consortium comprised of SBM Offshore (holding 63.125%) and its partners (holding 36.875%). This FPSO plays a central role in offshore oil production, exemplifying the advancement in deepwater technology. SBM Offshore and its partners will maintain operational control of the asset for the duration of the initial charter and lease agreements, which extend for an additional period of 8.5 years.
The asset has significant strategic importance as it aligns with SBM Offshore’s expertise in delivering advanced offshore infrastructure solutions while expanding its operational scope through innovative financing structures.
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Industry Overview in Brazil
The offshore oil and gas industry in Brazil has experienced robust growth, bolstered by substantial reserves in the pre-salt layer. This boom has driven increased investments and heightened interest from internatio
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Disclosed details
Transaction Size: $400M