Mitsui Engineering, Schahin $1.2B Order From Petrobras

According to an August 22 report from Bloomberg, Mitsui Engineering & Shipbuilding Co. and Schahin Engenharia SA won a $1.2b order from Petroleo Brasileiro SA to build a floating oil platform for use in the Guara oil fields off Rio de Janeiro. Mitsui Engineering unit Modec Inc., the second-largest maker of floating oil platform, will build a floating production, storage and offloading vessel by remodeling a used oil tanker, and lease it for 20 years, said Masahiro Takaoka, a spokesman for Tokyo-based Mitsui Engineering.

(Source: Bloomberg)