Japanese Firms Join Forces in FPSO Business

FPSO Cidade de CaraguatatubaIllustration; Image Courtesy: MODEC

Five Japanese companies, including MODEC, Mitsui, MOL, Marubeni and Mitsui E&S, have reached agreements to invest in a long-term FPSO charter business.

Based on these agreements, Mitsui, MOL, Marubeni and Mitsui E&S would invest in the Dutch company Libra MV31 B.V., established by MODEC, and the companies will proceed with the project jointly.

The deals were signed on May 11 for the purpose of providing a floating production, storage, and offloading system (FPSO) for use in the Mero field off the coast of Brazil.

MV31 has entered into a long-term charter agreement for the deployment of the FPSO with the Brazilian state oil company Petrobras, as the leader and operator of the Libra Consortium. The FPSO will be chartered for 22 years under this charter agreement which was signed in December 2017.

The FPSO will be named FPSO Guanabara MV31 and will be deployed at the Mero field located in the Libra block. The field is located approximately 180 kilometers from Rio de Janeiro, in the southeast coast of Brazil. FPSO will be moored in 2,100 meters water depth, in the year of 2021.

The project is the fifth occasion under which the companies have collaborated to operate FPSOs in Brazil.

Share this article

Follow World Maritime News

In Depth>

Events>

<< May 2018 >>
MTWTFSS
30 1 2 3 4 5 6
7 8 9 10 11 12 13
14 15 16 17 18 19 20
21 22 23 24 25 26 27
28 29 30 31 1 2 3

Posidonia 2018

Posidonia, the international shipping exhibition, has long been established as one of the major calendar events…

read more >

Europort 2018

From 15-17 May 2018, the 12th edition of Europort Romania willl take place in the IDU Hall in Constanta…

read more >

THE 7TH EDITION OF NAVALIA, INTERNATIONAL SHIPBUILDING EXHIBITION 2018

The event wanted to be from the beginning a reference for the naval sector and to serve as a tool to attract investors and contracts for the industry…

read more >

BlueWeek2018

The BlueWeek2018 will be held on 28-29-30 May in Rotterdam, under the auspices of the Blue Forum…

read more >