Japanese group investing in deepwater FPSO offshore Brazil

Four Tokyo-based companies are investing in a 20-year charter for a floating production, storage, and offloading vessel to be moored in 765 m of water offshore Brazil in fourth-quarter 2017.

The FPSO, to be named Cidade de Campos dos Goytacazes MV29, will be deployed with Petroleos Brasileiro SA in the C-M-401 concession block for Tartaruga Verde and Tartaruga Mestica fields, about 125 km from Macae in southern Brazil.

The FPSO will have processing capacity of 150,000 b/d of oil and 176 MMcfd of gas, and oil storage capacity of 1.6 million bbl.

Mitsui & Co. said it will be the fourth Brazilian FPSO operated by the group, which also includes Modec Inc., Mitsui OSK Lines Ltd., and Marubeni Corp. The companies are investing in Tartaruga MV29 BV, a Dutch company established by Modec, and signed agreements Apr. 14.

Mitsui has 32.4%, Modec 29.4%, Mitsui OSK Lines 20.6%, and Marubeni 17.6% (OGJ Online, Apr. 1, 2010).

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