en.Wedoany.com Reported - SBM Offshore has signed a financing agreement for the FSO Chalchi project, with a total financing amount of $465 million. The project financing is provided by a syndicate of multiple international banks and institutional investors, and is partially covered by China Export & Credit Insurance Corporation. The funds will be drawn during the construction period and will convert to a non-recourse loan once the FSO becomes operational, with a maximum loan term of approximately 14 years after completion.

The FSO Chalchi, currently under construction, is a newbuild floating storage unit based on a Suezmax hull design, equipped with a disconnectable turret mooring system developed by SBM Offshore. The unit will be deployed in waters approximately 2,500 meters deep and is capable of storing around 950,000 barrels of crude oil.

The FSO Chalchi will be deployed at the Trion field, located 180 kilometers off the coast of Mexico and 30 kilometers south of the U.S.-Mexico maritime border. The Trion project is a joint venture between Woodside Energy (60% stake, operator) and Petróleos Mexicanos (40% stake, non-operator). SBM Offshore has signed a 20-year lease and operate contract with Woodside Energy through its affiliated company in Mexico.

Douglas Wood, CFO of SBM Offshore, stated that the signing of this financing agreement marks the company's first transaction combining support from commercial banks, institutional investors, and export credit agencies, demonstrating its ability to provide innovative and long-term financing solutions for clients while also offering a scalable model for potential future lease and operate projects.