Mitsubishi Corporation (MC) is pleased to announce that a Joint Venture established by affiliated company of SBM Offshore N.V. (“SBM”), MC, and affiliated companies of Queiroz Galvão Óleo e Gás S.A (“QGOG”), has executed a contract with GUARA B.V., a Dutch company belonging to the BM-S-9 Consortium (*1), for the 20(twenty) years charter of a Floating Production, Storage & Offloading System (FPSO). The Joint Venture has also executed a contract for the 20(twenty) years operation of the same FPSO with Petróleo Brasileiro S.A..

 

Based on the contracts, the Joint Venture will deliver the FPSO for development of the north part of Sapinhoá oil field located off the shore of Brazil(*2). Upon completion of the engineering, procurement and construction (EPC) work, the FPSO will be named FPSO Cidade de Ilhabela.

 

SBM is responsible for the EPC work of the FPSO. The FPSO will include topside facilities to process 150,000 bpd(*3) of production fluids and to treat associated gas for 6,000,000 Sm³/day(*4) as well as facilities for compression, removal of carbon dioxide and hydrogen sulphide, and water injection (180,000 bpd). The FPSO is scheduled for delivery during the second half of 2014, and it is expected to be chartered for 20(twenty) years, contributing to oil production in Brazil.

 

In February 2011, MC signed a long-term cooperation agreement with SBM, to jointly pursue FPSO lease and operate projects worldwide, and this unit will be the first milestone project for this long-term cooperation. MC will continue to expand its FPSO business worldwide, mainly in Brazil, based on the long-term cooperation with SBM.

 

 

*1: An establishment consisting of PETROLEO BRASILEIRO S.A. - PETROBRAS (Operator, 45%), BG E&P BRASIL LTDA (30%), and REPSOL SINOPEC BRASIL S.A. (25%).

*2:Located in block BM-S-9 in the Santos Basin at approximately 300 kilometres offshore and 2,140  metres water depth.

*3: barrels per day

*4: standard m³

 

 

＜Company profiles＞

1.  SBM （SBM Offshore）

1)    Head office : Karel Doormanweg 66, 3115 JD Schiedam, The Netherlands

2)    Established : October 11, 1965

3)    Key business activities : SBM Offshore (SBM) is a group of international marine technology orientated companies serving on a global basis the offshore oil and gas industry by supplying engineered products, vessels and systems, and offshore oil and gas production services.

4)    Number of employees : 4,114 employees (as of December 31, 2010)

5)    Representative : Bruno Chabas, Managing Director and CEO

 

2.  QGOG （Queiroz Galvão Óleo e Gás）

1)    Head office : Av. Presidente Antonio Carlos, 51/7 andar, Centro Rio de Janeiro – RJ – CEP 20020-010 - Brazil

2)    Established : April, 1980

3)    Key business activities : QGOG is the oilfield services segment of the Queiroz Galvão Group, a large Brazilian conglomerate of companies which started 59 years ago as a construction company. QGOG is active in the areas of drilling services (onshore and offshore) and floating production in Brazil.

4)    Number of employees : 2,085 employees (as of December 31, 2010)

5)    Representative : Leduvy Gouvea, General Director

 

3.  Mitsubishi Corporation

1)    Head office : 3-1, Marunouchi 2-Chome, Chiyoda-ku, Tokyo, 100-8086, Japan

2)    Established : July 1, 1954

3)    Key business activities : Mitsubishi Corporation (MC) is a global integrated business enterprise that develops and operates businesses across various industries including Industrial Finance, Logistics & Development, Energy, Metals, Machinery, Chemicals, and Living Essentials. In addition to these Business Groups, MC has also established a Business Service Group and Global Environment Business Development Group.
4)    Number of employees : 58,470 employees (as of March 31, 2011)

5)    Representative : Ken Kobayashi, President and Chief Executive Officer