Japanese contractor Modec International and a clutch of compatriot companies have signed a deal to supply Petrobras with a floating production, storage and offloading unit on the Buzios pre-salt field in the Santos basin off Brazil.

Mitsui & Co, Marubeni and shipowning giant Mitsui OSK Lines (MOL) will join Modec in delivering the FPSO, which will be chartered for 21 years to the Brazilian state oil giant.

Based on the agreement signed on 12 November, Mitsui, MOL and Marubeni will invest in Buzios5 MV32 (MV32), a Dutch company established by Modec. The companies will then proceed with the joint development of the project, according to a joint statement as MV32 entered into a long-term charter agreement for the deployment of the FPSO with Petrobras.

Modec and Mitsui & Co each hold a 35% interest in MV32, with MOL on 20% and Marubeni on 10%.

The FPSO will be named FPSO Almirante Barroso MV32 and will be deployed approximately 180 kilometers from Rio de Janeiro, in the southeast coast of Brazil. It will be moored in 1900 meters water depth in 2022.

The FPSO will have an oil processing capacity of 150,000 barrels per day, and a gas processing capacity of 212 million cubic feet per day.

Rigs And Vessels

Japanese partners sign Buzios FPSO pact