Oil production commenced on September 2, 2016 from the Floating Production, Storage and Offloading system (FPSO*¹) owned by a joint venture between Mitsubishi Corporation (MC), Nippon Yusen Kabushiki Kaisha (NYK Line) and SBM Offshore N.V. (SBM), a global leader in the FPSO sector. The joint venture was set up for the charter, operation and maintenance of an FPSO system for Shell Offshore Inc. in the Gulf of Mexico.

The FPSO Turritella, constructed by converting a crude tanker, has been installed for use in development at the Stones Oil Field (*²) off the US coast of the Gulf of Mexico. The FPSO is operating at the world's deepest offshore development site, covering a water depth of 2,900 meters.

MC has participated in the charter, operation and maintenance of an FPSO for use in the northern part of Sapinhoá oil field and two FPSOs for use in the BM-S-11 block located off the coast of Brazil. This project marks the fourth such for MC. MC will continue to proactively seek out FPSO charter businesses as well as other opportunities in offshore oil and gas development services which continue to show stable demand.

Outline of FPSO Turritella

Oil Production Capacity

60,000 bbl/day

Gas Treatment Capacity

15 mmscf/day

Oil Storage Capacity

80,000 Bbl

Mooring Type

Disconnectable Turret (*³)

Percentage of Participation

SBM 55% / MC 30% / NYK Line 15%

Charter Period

Initial period of 10 years with future extension options up to a total of 20 years

(*1) FPSO: Floating Production, Storage & Offloading System. The system stores crude oil produced from offshore oil fields after removing solid materials, water and gas, then offloads to shuttle tanker by a certain shipment volume.

(*2) Stones Oil Field: An offshore oil field located 320 kilometers off the coast of Louisiana, U.S.A, at a water depth of 2,900 meters. Stones is owned by Shell Offshore Inc.

(*3) Disconnectable Turret: Anchorage sytem which enables the FPSO to be detached and towed away in the event of an approching hurricane.

Project Location

Mitsubishi Corporation published this content on 09 September 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 18 September 2016 15:35:01 UTC.

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