Oil production starts at FPSO unit in the Lula field
On June 6 oil production started on Cidade de Paraty, a floating production, storage, and offloading (FPSO)* unit chartered by Petroleo Brasileiro S.A.(Petrobras), a Brazilian energy corporation, and deployed for the BM-S-11 consortium (65% Petrobras, 25% BG Group (BG E&P Brasil Ltda), and 10% GALP Energia (Petrogal Brasil Ltda)), said in the company's press release.
Cidade de Paraty is deployed in a pre-salt area of the Lula field. This FPSO unit is owned by a shareholder consortium comprising SBM Offshore N.V. (Netherlands), Queiroz Galvão Óleo e Gás S.A. (Brazil), and a company owned by Nippon Yusen Kabushiki Kaisha and the Itochu Corporation (Itochu; head office: Minato-ku, Tokyo; president & CEO: Masahiro Okafuji, 40.68%). The unit has been chartered for 20 years by Petrobras.
In the waters off Brazil, fields in the pre-salt area have been found to hold significant amount of oil and gas reserves. Through its participation in this FPSO project, NYK Line and Itochu will continue their efforts to expand and develop their business in the offshore oil and gas industry, especially in Brazil, where remarkable growth is expected.
