The two companies, along with Mitsui, have placed a major order with a South Korean builder for a vessel with offshore exploration capabilities and the ability to drill in water depths of up to 3,000 metres. According to The Nikkei, NYK and Kawasaki plan to build the vessel and lease it to Brazilian state-owned offshore giant Petrobras until 2012. Petrobras, which had plans to spend US$28 billion over five years on offshore oil exploration, has been having financial difficulties since the onslaught of the credit crunch. Many foreign countries, especially China, have since voiced interest in acquiring rights to the large oilfield which was discovered off the Brazilian coast last year.
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