Mitsui OSK Lines : MODEC, Mitsui, MOL, Marubeni and MES to Proceed with the Ultra-Deepwater FPSO Charter Project for Sepia Area of Brazilian Offshore Pre-Salt Oil Field
MODEC, Inc. ('MODEC,' head office: Chuo-ku, Tokyo; President & CEO: Toshiro Miyazaki), Mitsui & Co., Ltd. ('Mitsui,' head office: Chiyoda-ku, Tokyo; President & CEO: Tatsuo Yasunaga), Mitsui O.S.K. Lines, Ltd. ('MOL,' head office: Minato-ku, Tokyo; President & CEO: Junichiro Ikeda), Marubeni Corporation ('Marubeni,' head office: Chuo-ku, Tokyo; President & CEO: Fumiya Kokubu) and Mitsui Engineering & Shipbuilding Co., Ltd. ('MES', head office: Chuo-ku, Tokyo; President & CEO: Takao Tanaka) have agreed that Mitsui, MOL, Marubeni and MES will invest in a long-term charter business ('the Project') currently promoted by MODEC for the purpose of providing a floating production, storage, and offloading system ('the FPSO') for use in the Sepia Area off the coast of Brazil. The above five companies ('the Companies') have entered into related agreements today.
Based on these agreements, Mitsui, MOL, Marubeni and MES will invest in Sepia MV30 B.V. ('MV30'), a Dutch company established by MODEC, and the Companies will proceed with the Project jointly. MV30 has entered into a long-term charter agreement for the deployment of the FPSO with Petróleo Brasileiro S.A. (Petrobras), the Brazilian state oil company. The FPSO will be chartered for 21 years under this charter agreement which was signed on 13 October 2017.
Outline of the FPSO
Oil processing capacity
180,000 barrels per day
Gas processing capacity
212 million cubic feet per day
Oil storage capacity
1,400,000 barrels
Mooring type
Spread mooring(at a depth of 2,140 meters)
Shareholders of MV30
MODEC, Inc.
20.1%
Mitsui & Co., Ltd.
32.4%
Mitsui O.S.K. Lines, Ltd.
20.6%
Marubeni Corporation
17.6%
Mitsui Engineering & Shipbuilding Co., Ltd.
9.3%
Contracts for further information
MODEC, Inc.
General Affairs Department
Telephone: +81-3-5290-1200
Facsimile: +81-3-5290-1505
Mitsui & Co., Ltd.
Corporate Communications Division
Media Relations Department
Telephone: +81-3-3285-7596
Facsimile: +81-3-3285-9819
Marubeni Corporation
Corporate Communications Department
Media Relations Section
Telephone: +81-3-3282-4804
Facsimile: +81-3-3282-2331
Mitsui Engineering & Shipbuilding Co., Ltd.
Corporate Planning Department
Public Relations Section
Telephone: +81-3-3544-3147
Facsimile: +81-3-3544-3036
Mitsui OSK Lines Ltd. published this content on 09 January 2018 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 09 January 2018 06:34:00 UTC.
Original documenthttp://www.mol.co.jp/en/pr/2018/18002.html
Public permalinkhttp://www.publicnow.com/view/7B95411C6B2EFC3D0DC280B121F75CABA96A0BD0
Mitsui O.S.K. Lines, Ltd. specializes in sea transport services. Net sales break down by activity as follows:
- transportation of dry bulk (28.4%);
- transportation of petroleum products and natural gas (23.2%);
- operation of container ships (21.8%);
- operation of car carriers, ro-ro and cruise ships (18.8%);
- other (7.8%): primarily logistics and port services.
At the end of March 2022, the group operates a fleet of 698 vessels.
Mitsui OSK Lines : MODEC, Mitsui, MOL, Marubeni and MES to Proceed with the Ultra-Deepwater FPSO Charter Project for Sepia Area of Brazilian Offshore Pre-Salt Oil Field