Mitsubishi Corporation

Sapura Commences Production at B15 Gas Field

, President & Group CEO of SEB. Sapura E&P via Sapura Exploration and Production (Sarawak) Inc. is the Operator of the SK310 PSC with a 30% participating interest and partners with PETRONAS Carigali Sdn. Bhd. at 40 percent and Diamond Energy Sarawak Sdn. Bhd., a subsidiary of Mitsubishi Corporation at 30 percent

FPSO Turritella Producing, On Hire

(200 miles) offshore Louisiana in the Walker Ridge area. The lease and operate contracts include an initial period of 10 years with future extension options up to a total of 20 years. The FPSO is owned and operated by a Joint Venture owned by affiliated companies of SBM Offshore, Mitsubishi Corporation and Nippon Yusen Kabushiki Kaisha in which SBM Offshore's shareholding is 55 percent

NYK: Oil Production Starts at Third FPSO Unit

; This FPSO unit, FPSO Cidade de Saquarema, is owned by a shareholder consortium comprising SBM Offshore N.V. (Netherlands), Queiroz Galvão Óleo e Gás S.A. (Brazil), and a joint venture company between NYK (48.72 percent; head office: Tokyo; president: Tadaaki Naito) and the Mitsubishi Corporation (51.28 percent; head office: Tokyo; president & CEO: Takehiko Kakiuchi). The joint venture has a 20-year time charter contract with Petroleo Brasileiro S.A. (Petrobras) to operate the FSPO. NYK will aim to further advance its expertise in the FPSO business by dispatching technical

Offshore Brazil: Production Starts at FPSO Unit

unit, FPSO Cidade de Marica, is owned by a shareholder consortium comprising SBM Offshore N.V. (Netherlands), Queiroz Galvão Óleo e Gás S.A. (Brazil), and a joint venture company between NYK (48.72 percent; head office: Chiyoda-ku, Tokyo; president: Tadaaki Naito) and the Mitsubishi Corporation (51.28 percent; head office: Chiyoda-ku, Tokyo; president & CEO: Ken Kobayashi). The joint venture has a 20-year time charter contract with Petroleo Brasileiro S.A. (Petrobras) to operate the FSPO. NYK will aim to further advance its expertise in the FPSO business by dispatching

MHI Subsidiary in Brazil for FPSO Compressors

In December Mitsubishi Heavy Industries Compressor Corporation (MCO), a Group company of Mitsubishi Heavy Industries, Ltd. (MHI) based in Hiroshima, will establish a new company in Brazil in a joint venture with Mitsubishi Corporation (MC), to be known as MHI Compressor do Brasil Ltda. (MCO-B). Creation of the new entity, which will launch commercial operations in February 2016, is targeted at developing the Latin American market for compressors, with a focus on expanding sales of compressors for use in Floating Production, Storage and Offloading systems (FPSO), a market expected to see

SBM Offshore Completes $1.55 bln FPSO Financing

tranche of $800 million including SACE $167 million and UKEF $53 million; NEXI covered tranche of $400 million; and uncovered commercial tranche of $350 million. FPSO Cidade de Saquarema is owned and operated by a joint venture owned by affiliated companies of SBM Offshore (56 percent), Mitsubishi Corporation (20 percent), Nippon Yusen Kabushiki Kaisha (19 percent), and Queiroz Galvão Óleo e Gás S.A. (5 percent). The vessel has processing capacity of up to 150,000 barrels of crude oil and 6 million cubic meters of gas per day, and storage capacity of approximately 1.6 million

SBM Offshore Divests Stake in Turritella Project

SBM Offshore has entered an agreement with Mitsubishi Corporation (MC) and Nippon Yusen Kabushiki Kaisha (NYK Line) for the acquisition of a stake in the joint venture companies incorporated for the purpose of owning and operating Floating Production Storage and Offloading (FPSO) Turritella, the company announced today. Mitsubishi Corporation (30 percent interest) and NYK Line (15 percent interest) have acquired a 45 percent combined stake in the joint venture companies. SBM Offshore, MC and NYK Line are also partners in other joint venture companies incorporated for the purpose of owning and

Ofgem to Link Offshore Wind to U.K Grid

stream for 20 years, Ofgem said. Offshore wind farm developers are required by the regulator to open their transmission assets for tender to encourage competition and lower prices. Last September a consortium including Barclays Infrastructure Funds Management Limited and a subsidiary of Mitsubishi Corporation won a tender, allowing them to maintain and operate the transmission link to the London Array offshore wind farm for 20 years. The British government aims to install 8-15 gigawatts of offshore wind capacity by 2020 to help meet emissions reduction goals and European renewable energy targets

Japanese Shipbuilders Take Stake in Brazil's ECOVIX

Five Japanese companies – Mitsubishi Heavy Industries, Ltd. (MHI), Imabari Shipbuilding Co., Ltd., Namura Shipbuilding Co., Ltd., Oshima Shipbuilding Co., Ltd. and Mitsubishi Corporation – have agreed to acquire a stake in ECOVIX -Engevix Construções Oceânicas S.A. (ECOVIX), a leading Brazilian shipbuilder. A Share Purchase Agreement (SPA) between the Japanese consortium and the Brazilian partners has been signed by the parties. The initiative marks the first investment by a Japanese consortium into a Brazilian shipbuilding business, with the Japanese side providing