MODEC, Mitsui, MOL, Marubeni and Mitsui E&S announced today that the five Japanese firms will collaborate on an ultra-deepwater Brazilian FPSO charter project.
The long-term deal investment is planned for the Mero field offshore Brazil.
The five firms said today that they have “agreed terms “on providing a floating production, storage, and offloading system (FPSO).
The deal will see Mitsui, MOL, Marubeni and Mitsui E&S invest in Libra MV31 B.V. , a Dutch company established by MODEC.
The FPSO will be chartered for 22 years under the new agreement, signed on 14 December 2017.
The Mero field lies approximately 111 miles from Rio de Janeiro off the southeast coast of Brazil.
Due to begin work in 2021, the FPSO will be moored in 2,100 meters water depth .