Oil Production Starts at FPSO Unit in the Lula Field
June 12, 2013
Nippon Yusen Kabushiki Kaisha
Itochu Corporation
On June 6 oil production started on FPSO 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)).
FPSO 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 (NYK Line; head office: Chiyoda-ku, Tokyo; president: Yasumi Kudo: 59.32%) 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.
- Outline of FPSO Cidade de Paraty
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Oil processing capacity
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120,000 barrels of oil per day
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Gas processing capacity
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5 million cubic meters per day
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Oil storage capacity
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1.6 million barrels
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Water injection capabilities
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150,000 barrels
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Mooring Type
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Spread mooring
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*An FPSO unit is a ship-shaped offshore installation to produce crude oil by separating solids, water, and gases from liquid drawn from reservoirs beneath the seabed and storing it until it is offloaded to shuttle tankers or export tankers.
**Pre-salt refers to the oil layer under a salt layer, about 5,000 meters beneath the seabed.
***The Lula field is located in block BM-S-11 in the Santos basin at approximately 300 kilometers offshore and in waters 2,100 meters deep.
Related press release: “NYK and Itochu to Participate in FPSO Business for Petrobras in Brazil to Produce Oil in Pre-salt area,” July 15, 2011,
Media inquiries may be directed to the following:
Corporate Communication and CSR Group
Nippon Yusen Kabushiki Kaisha (NYK Line)
Tel: +81-3-3284-5195
Corporate Communications Division
Itochu Corporation
Tel: +81-3-3497-7293
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