SPONSORED GUIDE: Financing Brazil’s Oil Boom

SPONSORED GUIDE: Financing Brazil’s Oil Boom

By Guilherme Forbes, Partner, Souza Cescon AdvogadosSince Petrobras put together its first limited recourse financing to develop the Marlim field as part of its efforts to increase production beyond 1mbd, the company has more than doubled its crude oil production. Financing the construction and operation of the scores of drilling ships and floating production platforms that have made this expansion possible has been a challenge for Petrobras, lenders and their advisors and a learning process for all involved.These assets are generally built and owned by foreign entities, which then lease them to Petrobras. In addition to the lease, a separate services agreement is established with the Brazil

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