Four Japanese Companies Decided to Proceed with the Deepwater Chartering Project of the FPSO for the Búzios Oil Field, Operated by Petrobras, Located in the Brazilian Pre-Salt
In a joint statement on Tuesday, MODEC, Mitsui & Co., Mitsui O.S.K. Lines (MOL), and Marubeni Corporation confirmed that Mitsui, MOL, and Marubeni will invest in a long-term chartering business currently promoted by MODEC with the aim of providing a floating production, storage, and offloading unit (FPSO) for use in the Búzios field, off the coast of Brazil.
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It is worth noting that MODEC received a letter of intent for the supply, chartering, and operation of Petrobras’ FPSO for the Búzios 5 field in June 2019.
The four companies signed related agreements on November 12, 2019. Based on these contracts, Mitsui, MOL, and Marubeni will invest in Buzios5 MV32 BV (MV32), a Dutch company established by MODEC, and the companies will proceed with the project together.
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MV32 signed a long-term charter agreement for the deployment of the FPSO at Petrobras. The FPSO will be chartered for 21 years under this contract, which was signed on September 24, 2019.
The FPSO will be named FPSO Almirante Barroso MV32 and will be deployed in the Búzios field, located in the vast “pre-salt” region of the Santos Basin. The field is located approximately 180 kilometers from Rio de Janeiro, on the southeast coast of Brazil. The FPSO will be moored at a depth of 1,900 meters in the year 2022.
This is the seventh time that the companies have collaborated to operate FPSOs in Brazil.
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. The oil storage capacity of the vessel will be 1,400,000 barrels.
Búzios is one of the offshore oil and gas fields in Brazil that is part of the Rights Transfer contract signed in 2010. The field is 100% operated by Petrobras and is located 180 kilometers off the coast of Rio de Janeiro, in the giant “pre-salt” region of the Santos Basin, Brazil, at a water depth of approximately 1,900 meters.

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