Brazil's Petrobras signs letters of intent for two FPSOs

RIO DE JANEIRO, Oct 15 (Reuters) - 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 massive offshore ships that help produce and store oil, known as FPSOs, the company said on Tuesday.

In a securities filing, Petroleo Brasileiro SA, as the company is formally known, said Modec's Marlim 1 FPSO will have a processing capacity of 80,000 barrels per day (bpd) of oil and Yinson's Marlim 2 FPSO will have a processing capacity of 70,000 bpd. Production is set to begin in 2022 and 2023, and the FPSOs will operate for 25 years. Petrobras did not disclose values.

(Reporting by Gram Slattery Editing by Chris Reese)