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Aseng secures $602m debt facility

Aseng Production, a joint venture between SBM Offshore and GEPetrol, has secured a $602 million project debt facility to finance the investment in the lease of the Aseng floating, storage, offloading and production vessel to be operated offshore Equatorial Guinea for Noble Energy.

Upstream staff  21 December 2010 07:55 GMT

SBM said the facility was a combination of a $400 million bank loan and a GEPetrol shareholder loan of $202 million, under a five year tenor.

SBM also said its P-57 FPSO had started first oil production last week for Brazilian giant Petrobras on the Jubarte field in the Campos basin, offshore Brazil.

The Netherland-based company will operate the FPSO for the first three years of production at the field and said the floater was capable of processing up to 180,000 barrels of oil and 2 million cubic metres of gas per day.

The Jubarte field is located 80 kilometres off the Espirito Santo coast, in a water depth of 1260 metres.

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