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January 30, 2020

Mitsui to invest in deepwater FPSO for Marlim field in Brazil

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

By Himaja Ganta

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

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MODEC, Mitsui OSK Lines (MOL) and Marubeni are shareholders, alongside Mitsui, under the deal.

Currently, MODEC 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.

The new FPSO, named Anita Garibaldi MV33, will deploy at the Marlim field situated in the Campos Basin.

The Marlim field is located approximately 150km from Rio de Janeiro, off the southeast coast of Brazil.

According to the partners, the FPSO will be fixed at about 670m depth in water 2022.

It will have an oil processing capacity of 80,000 barrels per day (bpd). It will have a gas processing capacity of 248 million cubic feet per day (mcf/d).

The Anita Garibaldi MV33 FPSO will have an oil storage capacity of about one million barrels.

MODEC and Mitsui together own 32.5% in MV33, while MOL owns 20% and Marubeni holds 15%.

This project is the eighth occasion on which the four companies have partnered to operate FPSOs in Brazil.

In October, Malaysian firm Yinson secured two letters of intent (LoI) valued at $5.4bn from Petrobras for the Marlim revitalisation project in Brazil.

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How attractive are current investment opportunities in Europe?

Europe has been identified as one of the most favorable regions for investors, seeing high investment activity in the past year. Most of these investments have been through Debt Offering, valued at close to $700 billion. The region has provided attractive investments in a diverse set of companies. Companies who tend to major themes such Digital Media, Cloud, Artificial Intelligence, E-commerce, and Big Data are recording the highest number of deals, with Digital Media recording close to 2,000 deals. However, GlobalData’s whitepaper offers a full view of the market, analyzing less successful or attractive points of investment as well, examining statistics on Equity Offering investments and PE/VC deals. Understand how government agencies for economies around the world use GlobalData Explorer to:  
  • Track the M&A and Capital Raising volumes into their target market
  • Identify the top sectors in the target market attracting the investments
  • For any investment segment, identify the top Investors inside and outside the target economy that are already investing in the Segment
  • Assess and showcase the growth potential for various Industries in the target economy
Don’t miss out on key market insights that can help optimize your next investment – read the report now.
by GlobalData
Enter your details here to receive your free Report.

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