|Contract Signed with Petroleo Brasileiro S.A. for Charter, Operation and Maintenance of FPSO|
TOKYO, Dec 13, 2019 - (JCN Newswire) - Mitsubishi Corporation (MC), together with Nippon Yusen Kabushiki Kaisha (NYK Line), has entered into a joint venture with SBM Offshore N.V. (SBM), a global leader in the FPSO sector, for the charter, operation, and maintenance of a Floating, Production, Storage, and Offloading (FPSO(1)) system for Petrobras.
|FPSO Cidade de Saquarema|
To be installed at the Mero Oil Field(2) off the Brazilian coast, this FPSO, named FPSO Sepetiba, is scheduled to commence operations in 2022. Through its participation, MC will help develop and ensure stable production from offshore oil and gas resources in Brazil.
This will be MC's fifth joint FPSO project with SBM and its first in six years in Brazil, the last being the Cidade de Marica and Cidade de Saquarema FPSOs in 2013. MC plans to continue expanding its FPSO and other offshore businesses around the world.
A floating production, storage, and offloading unit is a floating vessel used to store crude oil produced from offshore oil fields after removing solid materials, water and gas before it can be offloaded onto a tanker for shipment or transported through a pipeline.
(2) Mero field
An offshore oil field located 180 kilometers off the coast of Rio de Janeiro, Brazil at a depth of 2,000 meters. Mero is owned by a consortium of companies that includes Petrobras, Shell, and others.
About Mitsubishi Corporation
Mitsubishi Corporation, headquartered in Tokyo, is a global integrated business enterprise that develops and operates business across virtually every industry including industrial finance, energy, metals, machinery, chemicals, foods, and environmental business. Mitsubishi Corporation's current activities are expanding far beyond its traditional trading operations as its diverse business ranges from natural resources development to investment in retail business, infrastructure, financial products and manufacturing of industrial goods.
For more information on Mitsubishi Corporation, please visit the company's website at https://www.mitsubishicorp.com/jp/en/.
Dec 13, 2019 15:25 HKT/SGT
Source: Mitsubishi Corporation
Mitsubishi Corporation (TSE: 8058)
Topic: Press release summary
Sectors: Oil & Gas
From the Asia Corporate News Network
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