TOKYO (Dow Jones)–Mitsubishi Corp. (8058.TO) said Monday that it and two other companies have signed contracts to charter and operate a floating production, storage and offloading system for 20 years for Brazil’s state-owned Petróleo Brasileiro SA (PBR), or Petrobras.
Mitsubishi Corp.’s partners are SBM Offshore NV (SBMO.AE), a major global FPSO engineering company, and Queiroz Galvão Óleo e Gás SA, a Brazilian oil and gas developer, Mitsubishi Corp. said in a statement.
Mitsubishi Corp. said it has partnered with SBM since February 2011 to jointly pursue FPSO lease-and-operate projects, and this will be the first such project they have secured together.
Under the terms of deals, the three partners will deliver an FPSO for use in developing the north part of Sapinhoá oil field offshore Brazil in the second half of 2014, with a processing capacity of 150,000 barrels a day crude, Mitsubishi Corp. said.
-By Mari Iwata, Dow Jones Newswires
Join the gCaptain Club for curated content, insider opinions, and vibrant community discussions.
Join the 110,525 members that receive our newsletter.
Have a news tip? Let us know.
By Julian Lee (Bloomberg) Moscow’s use of the tankers sanctioned for their involvement in the Russian oil trade is accelerating, with close to one-third of the blacklisted vessels back at work....
Norway’s world-leading test center, METCentre, has signed contracts with three companies to test innovative floating offshore wind technology, hoping to reduce costs and advance the development in the nascent renewables...
By Gautam Naik (Bloomberg) After fearing the worst from Hurricane Milton, investors in catastrophe bonds appear to have sustained losses well below those predicted as recently as Wednesday. Estimates that had...
Access exclusive insights, engage in vibrant discussions, and gain perspectives from our CEO.
Sign Up
Maritime and offshore news trusted by our 110,525 members delivered daily straight to your inbox.
Essential news coupled with the finest maritime content sourced from across the globe.
Sign Up
Join The Club
