MODEC, Mitsui, MOL & Marubeni to Proceed with FPSO Project for Carioca Area

Source: www.gulfoilandgas.com 12/18/2013, Location: South America

MODEC, Inc., Mitsui & Co., Ltd., Mitsui O.S.K. Lines, Ltd. (MOL) and Marubeni Corporation have agreed that Mitsui, MOL and Marubeni will invest in a long-term charter business ("Project") currently promoted by MODEC for the purpose of providing a floating production, storage, and offloading system ("the FPSO") for use in the Carioca area of a pre-salt oil field off the coast of Brazil. The above 4 companies ("Companies") have entered into definitive agreements.

Based on these agreements, Mitsui, MOL and Marubeni will invest in Carioca MV27 B.V. ("MV27"), a Dutch company established by MODEC, and the Companies will proceed with the Project jointly. MV27 has signed a long-term chartering agreement for the deployment of the vessel by the BM-S-9 Consortium - Petrobras (45%), BG Group (30%) and Repsol Sinopec Brasil S.A. (25%). The FPSO will be chartered for 20 years under this chartering agreement signed in December 2013.

The FPSO will be named "FPSO Cidade de Caraguatatuba MV27" and will be deployed to the Carioca area of the BM-S-9 block off the coast of Brazil in the third quarter of 2016. The area is part of a deepwater oil field located approximately 300 km south of Rio de Janeiro, Brazil. The oil is contained in the pre-salt layer approximately 5,000 m beneath the seabed. The Project is the third occasion under which the Companies have collaborated to operate FPSOs for pre-salt oil fields.

The Schahin Group, the joint bidder with MODEC for this Project as the local partner in Brazil, has the option to invest up to 15% in MV27 prior to the commencement of the FPSO charter.

For more information about related Opportunities and Key Players visit Brazil Oil and Gas Projects


Norway >>  5/11/2022 - Solstad Offshore ASA (“Solstad”) is pleased to announce that Aker BP has chartered the large PSV Normand Arctic to support their activities on the Nor...
Singapore >>  5/6/2022 - Keppel Offshore & Marine Ltd (Keppel O&M), through its wholly-owned subsidiary Keppel Shipyard Ltd (Keppel Shipyard), has been awarded contracts worth...

Norway >>  5/5/2022 - The Petroleum Safety Authority Norway (PSA) has given Equinor consent to use AKOFS Seafarer, for light well intervention on the Norwegian Continental ...
United States >>  5/4/2022 - LLOG Exploration Company, L.L.C. (“LLOG” or “the Company”), a privately-owned exploration and production company focused on the deepwater Gulf of Mexi...

Guyana >>  4/23/2022 - The Government of Guyana will be receiving its first entitlement lift of the Unit Gold crude from the Liza Unity Floating Production Storage and Offlo...
Brazil >>  4/22/2022 - BW Energy has decided to proceed with the Maromba development project offshore Brazil and signed an agreement to purchase the FPSO Polvo from BW Offsh...

Related Categories: Diving Contractors  Dredging  FPSO Vessels and Equipment  General  Marine Services  Mooring Systems  Offshore Platforms  Subsea Production 

Related Articles: Diving Contractors  Dredging  FPSO Vessels and Equipment  General  Marine Services  Mooring Systems  Offshore Platforms  Subsea Production 


Gulf Oil and Gas
Copyright © 2021 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.