NYK confirms participation in two FPSO businesses for Petrobras in Brazil
Through an international joint venture (JV) company, NYK concluded a 20-year contract with the BM-S-11 consortium (65% Petrobras SA, the operator; 25% BG Group (BG E&P Brasil Ltda); and 10% GALP Energia (Petrogal Brasil Ltda)) on July 12 for the charter and operation of two additional floating production, storage, and offloading (FPSO) units. Oil production on the first FPSO unit, Cidade de Paraty, began on June 6. These two additional units will be deployed in the Lula Alto and Lula Central areas of the Lula pre-salt oil field, said in the company's press release.
For this project, NYK (48.72%) and the Mitsubishi Corporation established an international JV company to own and operate FPSOs together with SBM Offshore N.V. (Netherlands) and Queiroz Galvão Óleo e Gás S.A (Brazil).
The two additional FPSO units, FPSO Cidade de Maricá and FPSO Cidade de Saquarema, are being constructed by making alterations to two very large crude-oil carriers (VLCCs). The hull and marine systems of these two VLCCs are currently being upgraded in Guangzhou, China, and will later be integrated with their topside modules in Brazil. Onboard oil production will begin between the final quarter of 2015 and the first quarter of 2016.
Through its participation in these FPSO projects, NYK will continue its efforts to expand and develop its business through the utilization of the company’s specialized skills in the offshore oil and gas industry.