the Deepwater FPSO Charter Project for Marlim Field of Brazilian Offshore

the Deepwater FPSO Charter Project for Marlim Field of Brazilian Offshore

MODEC, Mitsui, MOL and Marubeni

will invest in a long-term charter business (“the Project”) currently promoted
by MODEC for the purpose of providing a floating production, storage, and offloading
system (“the FPSO”) for use in the Marlim field off the coast of Brazil.

The above four companies (“the Companies”) have entered into related agreements on 30th January 2020.

MV33

has received a Letter of Intent for a long-term charter agreement for the deployment of the FPSO in October 2019 from Petróleo Brasileiro S.A. (Petrobras), the Brazilian state oil company.

The FPSO

will be chartered for 25 years under this charter agreement.

The field is located approximately 150 kilometers from Rio de Janeiro, in the southeast coast of Brazil. FPSO will be moored in approximately 670 meters water depth, in the year of 2022.

https://www.marubeni.com/en/news/2020/release/20200130E.pdf#1580310000