Japanese companies cooperate for FPSO project off Brazil

MODEC, Mitsui & Co, Mitsui O.S.K. Lines, Marubeni and Mitsui E&S Holdings, agreed that Mitsui, MOL, Marubeni and Mitsui E&S will invest in a long-term charter business to provide a floating production, storage, and offloading system for use in the Mero field off the coast of Brazil. The FPSO will be chartered for 22 years.