FOP cooperation deal with Marubeni

Fred Olsen Production ASA (FOP) has signed a strategic cooperation deal with Japan’s Marubeni Corporation that will see the two firms work together to identify and execute FPSO projects in certain Asian countries.

The Norwegian firm said the partnership will target China, Vietnam, Cambodia and Thailand, where it expects there to be strong demand for FPSO services. FOP is 57.7% owned by First Olsen Ltd, a company owned jointly by Ganger Rolf ASA and Bonheur ASA.