Brazil's Petrobras signs letters of intent for two FPSOs

Modec

15/10/2019 23:13

RIO DE JANEIRO, Oct 15 (Reuters) - Brazilian state-run oil
firm Petrobras has signed letters of intent with Japan's Modec
Inc  6269.T  and Malaysia's Yinson Holdings Bhd  YINS.KL  for
charter contracts for massive offshore ships that help produce
and store oil, known as FPSOs, the company said on Tuesday.
    In a securities filing, Petroleo Brasileiro SA  PETR4.SA ,
as the company is formally known, said Modec's Marlim 1 FPSO
will have a processing capacity of 80,000 barrels per day (bpd)
of oil and Yinson's Marlim 2 FPSO will have a processing
capacity of 70,000 bpd. Production is set to begin in 2022 and
2023, and the FPSOs will operate for 25 years. Petrobras did not
disclose values.
    

 (Reporting by Gram Slattery
Editing by Chris Reese)
 ((gram.slattery@thomsonreuters.com; +55-21-2223-7117))