Japan steps into offshore Brazil bonanza

10 Jan 2018   Brazil, Japan

A consortium of Japanese energy companies said Tuesday they agreed to invest in a long-term agreement involving floating production options for offshore Brazil. Japanese energy company Marubeni said it teamed up with floating production contractor MODEC Inc., and Japanese transport company Mitsui O.S.K. Lines to invest in a long-term charter business “for the purpose of providing a floating production, storage and offloading system for use in the Sepia area offshore Brazil.” Much of the oil from the offshore basins are buried underneath a thick layer of salt on the ocean floor and producers have been able to crack into that in recent years. Output from pre-salt basins has accelerated since 2009 as exploration and production technology acclimates to the region’s tough conditions. By the end of August , Brazil […]

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