The Japan Bank for International Cooperation has signed a loan agreement in the aggregate amount of up to 702 million U.S. dollars (JBIC portion) with Cernambi Norte MV26 B.V. (CMV26), a company incorporated in the Netherlands in which MODEC, Inc. (MODEC), Mitsui & Co., Ltd., Mitsui O.S.K. Lines, Ltd., and Marubeni Corporation have equity stakes. [...]
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MODEC announced today that Brazil’s oil company Petrobras has signed a Letter of Intent (LoI) for the supply, charter, and operations of a Floating, Production, Storage, and Offloading (FPSO) vessel for the BM-S-11 block (Lula – Iracema Area) Block in the giant “pre-salt” region of the Santos Basin with its water depth of 2,240m. The [...]
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MODEC and TOYO Offshore Production Systems Pte. Ltd. (MTOPS), has been awarded a contract to install topsides units for a Floating Production, Storage and Offloading (FPSO) system by MODEC’s Singaporean subsidiary, MODEC Offshore Production Systems (Singapore) Pte. Ltd. The FPSO will be delivOSX Brasil S.A., a privately owned Brazilian oil development company. It will be [...]
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Aibel, a leading service company that provides engineering, construction, upgrading and maintenance solutions to the the oil, gas sector announced the successful completion of the Guara modules project. The modules departed from Laem Chabang to Brazil on Friday. Managing Director Jim Ryan at Aibel Thailand says everything has gone according to schedule in the project: “It [...]
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![Modec Receives FPSO Order from Petrobras, Brazil]()
MODEC announced today that Petróleo Brasileiro S.A. (“Petrobras”), through its subsidiary Tupi B.V., on behalf of Consortium BM-S-11, has signed a Letter of Intent (LoI) for the supply, respectively, charter, and operations of a Floating, Production, Storage, and Offloading (FPSO) vessel for the BM-S-11 block (Cernambi South) in the giant “pre-salt” region of the Santos [...]
![COSCO President Visits Modec in Japan]()
On August 3, Mr. Wang Yuhang, President of COSCO Shipyard Group, went to Japan to visit the headquarters of MODEC, a world leading supplier of offshore oil and gas production equipment. He was accompanied by Mr. Zhang Jiqing, G. M. of COSCO Japan, and Mr. Gong Libing, Party Secretary of COSCO Dalian Shipyard, and warmly [...]
![Brazil: OSX Awards MODEC USD 800 Million FPSO EPCI Contract]()
OSX Brasil S.A. (“OSX”) , a Brazilian publicly held corporation focused in the supply of equipment and services to the offshore oil and gas industry, through integrated operations in shipbuilding, chartering of exploration and production (E&P) units, and operation and maintenance (O&M) services, informed its shareholders and the market in general that: OSX 3 Leasing [...]
![Australia: Modec Lands TLP FEED Contract from Woodside for Browse LNG Project]()
Woodside has selected MODEC as one of two companies to perform the Front End Engineering Design (FEED) for two (2) Dry Tree Units (DTUs) for the Browse LNG Development (Browse). Woodside is Australia’s largest publicly traded oil and gas exploration and production company and one of the world’s leading producers of liquefied natural gas. [...]
![Ghana: MODEC Announces Successful First Oil for FPSO Kwame Nkrumah MV21]()
MODEC announces another outstanding milestone for the FPSO Kwame Nkrumah MV21 (Jubilee FPSO) with the official First Oil Ceremony. On November 28, 2010, the FPSO Kwame Nkrumah MV21 achieved commissioning of first oil offshore Ghana. The J-02 well opened at 15:45 hours, GMT. Hydrocarbons reached the topsides in the late afternoon and the first flare [...]
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![Brazil: IHC Hytop Riser Pull-in Package is Launched on Board MODEC FPSO]()
IHC Hytop, part of IHC Merwede, has announced that its riser pull-in package has successfully pulled in the first three risers on a MODEC FPSO (Floating Production Storage and Offloading) vessel. The FPSO vessel is currently deployed off the coast of Brazil by MODEC and operated by the contractor on behalf of its customer. It [...]
