A consortium of Mitsui-linked Japanese companies will work on floating production storage and offloading (FPSO) vessel project for Petrobras.
Mitsui, MOL, Marubeni and MES will jointly invest in the Modec-led project for the 21-year long term charter in the Sepia filed offshore Brazil, the companies said in a joint press release.
Mitsui, MOL, Marubeni and MES take 32%, 21%, 18% and 9% stakes respectively in Sepia MV30, a company established by Modec in the Netherlands. Modec will take the remaining share and the companies will jointly execute the project to execute the deployment of the FPSO for Petrobras. The companies have cooperated on various FPSO projects previously.
The vessel is designed to have an oil processing capacity of 180,000 barrels per day, gas processing capacity of 212m cubic feet per day and oil storage capacity of 1.4m barrels.
Petrobras had signed the FPSO charter deal with Modec in October to serve the Sepia field where production was first expected in 2020 but has been delayed to 2021. No financial details were disclosed.