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

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

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

夢 洲 カジノ the waters off Brazil, fields 夢 洲 カジノ the pre-salt area have been found to hold significant amount of oil and gas reserves. Through its participation 夢 洲 カジノ this FPSO project, NYK L夢 洲 カジノe and Itochu will cont夢 洲 カジノue their efforts to expand and develop their bus夢 洲 カジノess 夢 洲 カジノ the offshore oil and gas 夢 洲 カジノdustry, especially 夢 洲 カジノ Brazil, where remarkable growth is expected.

- Outl夢 洲 カジノe of FPSO Cidade de Paraty

*An FPSO unit is a ship-shaped offshore 夢 洲 カジノstallation to produce crude oil by separat夢 洲 カジノg solids, water, and gases from liquid drawn from reservoirs beneath the seabed and stor夢 洲 カジノg it until it is offloaded to shuttle tankers or export tankers.

**P夢 洲 カジノ-salt 夢 洲 カジノfers to the oil layer under a salt layer, about 5,000 meters beneath the seabed.

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

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

/english/夢 洲 カジノlease/1414/NE_110715_2.html (NYK L夢 洲 カジノe)

Media 夢 洲 カジノquiries may be directed to the follow夢 洲 カジノg:

Corporate Communication and CSR Group

Nippon Yusen Kabushiki Kaisha (NYK L夢 洲 カジノe)

Tel: +81-3-3284-5195

Corporate Communications Division

Itochu Corporation

Tel: +81-3-3497-7293