Mitsui, MOL and Marubeni will jointly invest in Dutch firm established by MODEC, Marlim1 MV33


A new FPSO is planned to be deployed at Marlim field offshore Brazil. (Credit: Pixabay/D Thory )

Mitsui and partners have agreed to invest in a long-term charter project to provide a floating production, storage and offloading system (FPSO) for Marlim field offshore Brazil.

Located in the Campos Basin, in the northern region of the Rio de Janeiro State, 150km off the coast, the Marlim field is operated by Brazil’s Petrobras.

Alongside Mitsui, MODEC, Mitsui OSK Lines (MOL) and Marubeni are shareholders under the deal. MODEC currently promotes the long-term charter business.

Mitsui, MOL and Marubeni will invest in Marlim1 MV33, a Dutch firm established by MODEC, and jointly proceed with the project.

Anita Garibaldi MV33 to be deployed at Marlim field offshore Brazil

The new FPSO, named Anita Garibaldi MV33, is planned to be deployed at the Marlim field.

With an oil processing capacity of 80,000 barrels per day (bpd) and gas processing capacity of 248 million cubic feet per day (mcf/d), the FPSO will be fixed at about 670m depth in water, in 2022.

The Anita Garibaldi MV33 FPSO, which will have an oil storage capacity of about one million barrels, will be chartered for a 25-year period as per the terms of the charter agreement.

MODEC and Mitsui will own 32.5% stakes each in MV33, while MOL owns 20% interest and Marubeni holds the remaining 15% interest.

Separately, the Japanese offshore floating platforms provider MODEC secured a FPSO contract for the Bacalhau field development in Brazil.

In October 2019, MODEC secured a letter of intent (LoI) from Brazil’s Petrobras for a FPSO contract for the Marlim field.

The FPSO will be part of the Marlim cluster revitalisation project and the first oil production from the vessel is scheduled for 2022.

MODEC said it will also supply three more FPSOs namely the FPSO Carioca MV30, the FPSO Guanabara MV31 and the FPSO Almirante Barroso MV32 for Brazil in the next few years, for deployment in the pre-salt of Santos Basin.