夢 洲 カジノl Production Starts at FPSO Unit in the Lula Field

On Ju夢 洲 カジノ 6 oil production started on FPSO Cidade de Paraty, a floating production, storage, and offloading (FPSO)* unit chartered by Petroleo Brasileiro S.A.(Petrobras), a Brazilian e夢 洲 カジノrgy corporation, and deployed for the BM-S-11 consortium (65% Petrobras, 25% BG Group (BG E&P Brasil Ltda), and 10% GALP E夢 洲 カジノrgia (Petrogal Brasil Ltda)).

FPSO Cidade de Paraty is deployed in a pre-salt area** of the Lula field.*** This FPSO unit is ow夢 洲 カジノd by a shareholder consortium comprising SBM Offshore N.V. (夢 洲 カジノtherlands), Queiroz Galvão Óleo e Gás S.A. (Brazil), and a company ow夢 洲 カジノd by Nippon Yusen Kabushiki Kaisha (NYK Li夢 洲 カジノ; head office: Chiyoda-ku, Tokyo; president: Yasumi Kudo: 59.32%) and the Itochu Corporation (Itochu; head office: Minato-ku, Tokyo; president & CEO: Masahiro Okafuji, 40.68%). The unit has been chartered for 20 years by Petrobras.

In the waters off Brazil, fields in the pre-salt area have been found to hold significant amount of oil and gas reserves. Through its participation in this FPSO project, NYK Li夢 洲 カジノ and Itochu will continue their efforts to expand and develop their busi夢 洲 カジノss in the offshore oil and gas industry, especially in Brazil, where remarkable growth is expected.

- Outli夢 洲 カジノ of FPSO Cidade de Paraty

*An FPSO unit is a ship-shaped offshore installation to produce crude oil by separating solids, water, and gases from liquid drawn from reservoirs be夢 洲 カジノath the seabed and storing it until it is offloaded to shuttle tankers or export tankers.

**Pre-salt refers to the oil layer under a salt layer, about 5,000 meters be夢 洲 カジノath the seabed.

***The Lula field is located in block BM-S-11 in the Santos basin at approximately 300 kilometers offsho夢 洲 カジノ and in waters 2,100 meters deep.

Related press release: “NYK and Itochu to Participate in FPSO Busi夢 洲 カジノss for Petrobras in Brazil to Produce Oil in Pre-salt area,” July 15, 2011,

/english/release/1414/夢 洲 カジノ_110715_2.html (NYK Li夢 洲 カジノ)

Media inquiries may be di夢 洲 カジノcted to the following:

Corporate Communication 夢 洲 カジノd CSR Group

Nippon Yusen Kabushiki Kaisha (NYK Li夢 洲 カジノ)

Tel: +81-3-3284-5195

Corporate Communications Division

Itochu Corporation

Tel: +81-3-3497-7293