Japanese quartet to invest in Modec’s Sepia FPSO

Four Japanese companies will invest in a new company established by compatriot Modec with an aim to provide a floating, production, storage and offloading (FPSO) unit for the Petrobras-operated Sepia field offshore Brazil. 

Mitsui & Co., Ltd., Mitsui O.S.K. Lines, Ltd. (MOL), Marubeni and Mitsui Engineering & Shipbuilding (MES) have agreed to invest in a long-term charter business currently promoted by Modec for the purpose of providing an FPSO for use in the Sepia.

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