Brazilian state-run oil firm Petrobras has signed letters of intent with Japan’s Modec Inc. and Malaysia’s Yinson Holdings Bhd for charter contracts for FPSOs, the company said Oct. 15.

In a securities filing, Petrobras said Modec’s Marlim 1 FPSO will have a processing capacity of 80,000 barrels per day (bbl/d) of oil and Yinson’s Marlim 2 FPSO will have a processing capacity of 70,000 bbl/d.

Production is set to begin in 2022 and 2023, and the FPSOs will operate for 25 years. Petrobras did not disclose values.