FPSO Cidade de Mangaratiba Begins 20-Year Charter in Santos Basin

MODEC announced today the FPSO Cidade de Mangaratiba MV24 achieved first oil in October at block BM-S-11 in Santos Basin offshore Brazil.  The vessel is on a 20-year charter to Tupi B.V., a Dutch company owned by Petrobras Netherlands B.V. (65%), BG Group (25%), and Galp Energia E&P Brasil B.V.(10%). Moored in waters 2,200 meters deep, FPSO Cidade de Mangaratiba MV24 is … [Read more...]

MODEC Awarded FPSO Supply and Charter Contract Offshore Ghana

MODEC has announced that they have been awarded a 20-year FPSO charter contract by Tullow Ghana at their TEN Field located in the Deepwater Tano Contract Area, 60 kilometers off the coast of Ghana and approximately 30 kilometres west of the Tullow Operated Jubilee Field. This contract will involve the conversion of the VLCC Centennial J into an FPSO capable of producing 80,000 … [Read more...]

MODEC Gets the Green Light for Stampede TLP

Tokyo-based MODEC International has announced the execution of a contract with Hess Corporation to provide Engineering and Management Services for the Stampede tension leg platform (TLP), a production facility which is "targeted for sanction in 2014" according to a statement on Hess' website. These services include project management, engineering, procurement management, and … [Read more...]

MODEC’s LiBro FLNG Looks Promising, and Safe

As you've likely noticed over the past few months, the concept of producing, processing, liquefying, storing, and transferring LNG via an offshore floating (FLNG) facility has caught on in a big way.  For many locations, it's a cheaper and more flexible option than a shore-based facility. When it comes to choosing an FLNG facility, there are many options and considerations. … [Read more...]

MODEC Announces Partners for FPSO Cidade de ITAGUAÍ MV26 Project Off Brazil

TOKYO - MODEC announced today that Mitsui & Co., Mitsui O.S.K. Lines, and Marubeni Corporation have agreed to invest in a MODEC-operated, long-term FPSO charter business in the Iracema Norte area of a pre-salt oil field off the coast of Brazil. The letter of intent was announced in November 2012 and the 20-year charter agreement was signed in February between Dutch field … [Read more...]