MODEC, Mitsui, MOL, Marubeni in FPSO Charter for Marlim Field

MODEC, Mitsui, MOL and Marubeni have agreed to invest in a long-term charter business, currently promoted by MODEC, to provide a floating production, storage, and offloading system (FPSO) for use at the Marlim field, offshore Brazil.

Based on the agreements, Mitsui, MOL and Marubeni will invest in Marlim1 MV33 (MV33), a Dutch company established by MODEC, and the companies will proceed with the project jointly.

MV33 has received a Letter of Intent for a long-term charter agreement for the deployment of the FPSO in October 2019 from Petrobras, the Brazilian state oil company.

The FPSO will be chartered for 25 years under this charter agreement.

The FPSO will be named FPSO Anita Garibaldi MV33 and will be deployed at the Marlim field situated in the Campos Basin.

The field is located approximately 150 kilometers from Rio de Janeiro, in the southeast coast of Brazil. It will be moored in approximately 670 meters water depth, in the year of 2022.

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