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.