| A consortium comprising Japanese companies MODEC, Mitsui, Mitsui OSK Lines (MOL), and Marubeni plan to convert a ship into a floating production, storage, and offloading vessel (FPSO). Upon completion in 4Q17, the FPSO will be chartered to Brazilian oil company Petrobras, which will deploy the vessel to its Tartaruga Verde and Tartaruga Mestiça oilfields in offshore Brazil, the group said on 14 April. It will be named FPSO Cidade de Campos dos Goytacazes MV29 and moored in 765 m-deep waters 125 km from Rio de Janeiro. Petrobras will charter the vessel for 20 years. The FPSO can process 150,000 barrels of crude oil per day, 176 million ft3 of gas per day, 200,000 barrels of water injection per day, and can store about 1,600,000 barrels of crude oil. The Japanese companies will invest in Tartaruga MV29 B.V., a Dutch company established by MODEC, to own the FPSO. This is the fourth time the companies have collaborated to operate FPSOs in Brazil. |