Participation in FPSO Owning and Chartering Business for Marlim II Project, Offshore Brazil
30 April 2020
Malaysia
SC has concluded an agreement with Yinson Holdings Berhad, a Malaysian offshore development services provider, to participate in the floating production, storage and offloading (FPSO*) owning and chartering business for the Marlim II Project, off the Brazilian coast. Upon completion of the agreement, Sumitomo will have a 25% stake in the FPSO venture.
The recent FPSO is planned to serve the Marlim oil and gas field revitalization project, which is operated by Brazil’s Petrobras and situated 150 kilometers off the Brazilian coast in the Campos Basin. The two entities co-owned by Sumitomo and Yinson, will sign agreements for owning/chartering and operation/maintenance with Petrobras. The first production was scheduled for the beginning of 2023, with a 25-year charter thereafter.
*FPSO facilities are used by the offshore crude oil and gas production industry. They are designed to produce/process hydrocarbons, store oil, and offload it directly onto a tanker.
FPSO John Agyekum Kufuor（Copyright Yinson Holdings Berhad）
Site visit to Keppel Shipyard in Singapore during construction phase for our first
FPSO Project (Ghana) as equity investor
(Left to right) JASOP Executive Director Mr Yoshiaki Nakamura, SCAO Energy Dept GM Mr Shuichi Horie,
Development Bank of Japan Manager Mr Takuya Murakami