SBM/Mitsubishi form FPSO partnership

Offshore staff

MONACO -- SBM Offshore has signed a long-term cooperation agreement with Mitsubishi Corp. to pursue FPSO lease and operation projects worldwide.

The two companies will serve as equity partners for ownership and operation of FPSOs. SBM Offshore will be responsible for EPCI supply of these units, and act as operator on behalf of the partnership.

In the past, the duo has partnered on the Yetagun FSO and Rang Dong FPSO lease contracts offshore Myanmar and Vietnam.

02/16/2011



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