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Article: Marubeni Announces Strategic Alliance with Fred. Olsen Production ASA for Offshore Oil Field Development Projects.
- Article from:
- JCN Newswires
- Article date:
- May 10, 2007
CopyrightCOPYRIGHT 2007 Japan Corporate News Network K.K. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Tokyo, Japan, May 9, 2007 - (JCN Newswire) - Marubeni Corporation (TSE: 8002) announced today that Marubeni and Fred. Olsen Production ASA ('FOP'), of Norway, have formed a strategic alliance for identifying and executing FPSO/FSO* projects in certain countries in the Asian region including Vietnam, China, Thailand and Cambodia.
FPSO/FSOs are floating systems for developing offshore oil fields, with oil storage capacity. In general, an FPSO/FSO is utilized in cases of development of distantly-located, deep-water or marginal fields, or for the purpose of early production. Compared to fixed platform production systems, FPSO/FSO has merits including,
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