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BRAZIL: Joint venture contract award for provision of $270,000,000 floating production, storage...

PROJECT OVERVIEW:

UK-based ENTERPRISE OIL currently acts as operator for the Bijupira-Salema oilfields offshore Brazil. And, the company recently awarded a contract for the supply of a floating production, storage and offloading (FPSO) facility to an American/Japanese joint venture operating under the name of FMC/MODEC. The latter includes U.S.-based FMC ENERGY SYSTEMS, a subsidiary of FMC CORP. and MITSUI & CO. of Japan.

According to the terms of the award the partnership will be responsible for the provision of an FPSO facility will with an installed

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