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December 13, 2019
Mitsubishi Corporation

Mitsubishi Corporation Participates in FPSO Project in Brazil
Contract Signed with Petróleo Brasileiro S.A. for Charter, Operation and Maintenance of FPSO

Mitsubishi Corporation (MC), together with Nippon Yusen Kabushiki Kaisha (NYK Line), has entered into a joint venture with SBM Offshore N.V. (SBM), a global leader in the FPSO sector, for the charter, operation and maintenance of a Floating, Production, Storage and Offloading (FPSO *1) system for Petrobras.
To be installed at the Mero Oil Field (*2) off the Brazilian coast, this FPSO, named FPSO Sepetiba, is scheduled to commence operations in 2022. Through its participation, MC will help develop and ensure stable production from offshore oil and gas resources in Brazil.
This will be MC’s fifth joint FPSO project with SBM and its first in six years in Brazil, the last being the Cidade de Marica and Cidade de Saquarema FPSOs in 2013. MC plans to continue expanding its FPSO and other offshore businesses around the world.
Outline of FPSO
Oil Production Capacity
180,000 bbl/day
Gas Production Capacity
12 million cubic meter/day
Oil Storage Capacity
1.4 million bbl
Water Injection Capacity
250,000 bbl/day
Mooring Type
Spread Mooring
Percentage of Participation
SBM 64.5%, MC 20%, NYK 15.5%
Charter Period
22.5 years
FPSO Cidade de Saquarema (Copyright SBM Offshore)
*1. FPSO
A floating production, storage and offloading unit is a floating vessel used to store crude oil produced from offshore oil fields after removing solid materials, water and gas, before it can be offloaded onto a tanker for shipment or transported through a pipeline.
*2. Mero field
An offshore oil field located 180 kilometers off the coast of Rio de Janeiro, Brazil at a depth of 2,000 meters. Mero is owned by a consortium of companies that includes Petrobras, Shell and others.
Company profiles
1.Mitsubishi Corporation
Head office
3-1, Marunouchi 2-chome, Chiyoda-ku, Tokyo, 100-8086, Japan
Main Business
MC is a global integrated business enterprise that is comprised of 10 Business Groups: Natural Gas, Industrial Materials, Petroleum & Chemicals, Mineral Resources, Industrial Infrastructure, Automotive & Mobility, Food Industry, Consumer Industry, Power Solution, and Urban Development.
Takehiko Kakiuchi, President and CEO
2.Nippon Yusen Kabushiki Kaisha (NYK LINE)
Head office
3-2, Marunouchi 2-Chome, Chiyoda-ku, Tokyo, 100-0005, Japan
Main Business
Global Logistics (Liner Trade, Air Cargo Transportation, and Logistics), Bulk Shipping, and Others (Real Estate and Other)
Hitoshi Nagasawa, President
3.SBM (SBM Offshore)
Head office
Main Business
SBM Offshore provides floating production solutions to the offshore energy industry, over the full product life-cycle. The Company’s main activities are the design, supply, installation, operation and life extension of FPSO vessels. These are either owned and operated by SBM Offshore and leased to its clients or supplied on a turnkey sale basis.
Mr. Bruno Chabas, Managing Director and CEO

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