Japanese Partners Buy into Sepetiba FPSO

Maritime Activity Reports, Inc.

December 13, 2019

(File photo: SBM Offshore)

(File photo: SBM Offshore)

Mitsubishi Corporation (MC) and Nippon Yusen Kabushiki Kaisha (NYK) have purchased minority interests in the lease and operation of a newbuild floating production, storage and offloading unity (FPSO) from majority owner SBM Offshore. 

FPSO Sepetiba, formerly known as Mero 2, is currently under construction and will be leased for 22.5 years to Petrobras for deployment at the Mero field in the Santos Basin offshore Brazil

MC acquired 20% and NYK acquired 15.5% ownership interest in the companies. SBM Offshore is operator and will maintain its majority stake with the remaining 64.5% interest.

NYK said it will provide personnel to participate in the engineering, procurement, and construction (EPC) phase of the FPSO for the first time. It will also be involved in the operation of the unit.

Slated for delivery in 2022, FPSO Sepetiba is being constructed under SBM’s Fast4Ward program, which incorporates a newbuild, multipurpose hull combined with several standardized topsides modules.

The FPSO will have oil production capacity 180,000 barrels per day, gas production capacity 12 million cubic meters per day, oil storage capacity 1.4 million barrels and water injection capacity 250,000 barrels per day.

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