NYK, MC to Form JV for Stones O&G Project in GoM

NYK has made the decision to invest jointly with the Mitsubishi Corporation (MC) in the chartering, operation, and maintenance of a floating production, storage, and offloading (FPSO) vessel* in the Stones project, an ultra-deep-sea field in the Gulf of Mexico 2,900 meters below the surface and approximately 320 kilometers off the shore of the U.S. state of Louisiana.

The Stones project is owned and operated by Shell Offshore Inc., a group of Royal Dutch Shell plc (RYDAF)., and NYK and MC have entered a consortium with SBM Offshore, which has been entrusted by Shell Offshore Inc. to lead the FPSO operation.

NYK currently participates in three FPSO businesses in waters off Brazil, and the consortium-owned FPSO used in this project (FPSO Turritella) will be the fourth FPSO venture for NYK. The Stones field will be the deepest an FPSO has ever operated, and to ensure safety, the vessel will make use of a state-of-the-art turret featuring a detachable buoy that allows the vessel to turn in place during normal weather conditions and, if a heavy storm or hurricane approaches, disconnect the mooring lines and risers from the well system and sail to a safe area.

In accordance with its medium-term management plan “More Than Shipping 2018,” NYK will continue to make use of its extensive technical expertise, knowledge, and know-how to be an integral part of the offshore business.