|Founded in 1968, MODEC is a turnkey supplier of Floating Production Storage and Offloading (FPSO) vessels, Floating Storage and Offloading (FSO) vessels, Tension Leg Platforms (TLPs) and production semi-submersibles for the offshore oil and gas industry. MODEC operates 11 FPSO/FSOs world-wide and has three FPSOs and one FSO under construction. MODEC has delivered four TLPs and has a fifth under construction. MODEC was recently recognized by the Offshore Technology Conference for innovative technology for its MOSES Self Stable Integrated Platform (SSIP) TLP.|
OMV Awards Contract to MODEC for Maari Field
Wednesday, November 14, 2012 OMV New Zealand announced the Maari Joint Venture's decision to exercise its option to purchase the Floating Processing, Storage and Offloading (FPSO) vessel Raroa.
Rise of Chinese Shipyards in the FPSO Industry
Thursday, October 11, 2012 Chinese shipyards are set to take their place on the global FPSO stage as international players look to diversify from the traditional markets of Singapore, Malaysia, South Korea and the UAE.
Modec, Mitsui, Marubeni Charter FPSO for Cernambi Sul
Friday, March 23, 2012 MODEC, Mitsui and Marubeni have agreed that the cos will invest in a long-term charter business operated by MODEC for the purpose of providing an FPSO for use in Cernambi Sul offshore Brazil.
Jurong Shipyard Bags FPSO Conversion Proj. from MODEC
Tuesday, October 04, 2011 Jurong Shipyard has secured a project to convert the Very Large Crude Carrier (VLCC) tanker, the MV TAR II (ex STAR II), to an FPSO vessel for MODEC.
MODEC, Schahin Enter LOI in Guara Block
Monday, August 23, 2010 MODEC announced that Petrobras has signed an LOI for the supply, respectively, charter, and operations of a FPSO vessel for the BM-S-9 (Guara) Block in the giant "pre-salt" region of the Santos Basin.
Ghana's First FPSO to Set Sail
Tuesday, May 04, 2010 Ghana's First FPSO vessel FPSO Kwame Nkrumah MV21, successfully converted by Sembcorp Marine's subsidiary Jurong Shipyard for MODEC, is on track for its landmark assignment offshore Ghana's Jubilee Field.
Asian Cos Participate in Pre-Salt Brazil FPSO Charter
Wednesday, March 31, 2010 MODEC, Mitsui, Mitsubishi and Mitsui O.S.K. Lines have agreed to invest in the chartering of Petrobras' FPSO for use at a deepwater pre-salt oil field currently under development offshore Brazil.
LOI Signed for Pre-Salt Guara FPSO
Thursday, January 28, 2010 A Petrobras-led consortium signed a LOI for the chartering of the Guara pilot FPSO, which will opertate in block BM-S-9 in the Santos Basin.
Petrobras Awards FEED Contract for Floating LNG Unit
Monday, December 21, 2009 Petrobras, BG Group, Repsol and Galp have awarded the tender to develop the FEEDs for an onboard natural gas liquefaction unit.
Deepwater Oil Finds Spur NYK to Invest in New Vessels
Thursday, September 10, 2009 A raft of giant oil strikes in global deepwaters is prompting Japanese shipping company NYK Line to invest more in floating production vessels that it can offer for lease.
FloaTEC Submits Bid for $1.1B Papa-Terra Platform Tender
Thursday, September 03, 2009 FloaTEC, a joint venture company formed by Keppel FELS and J. Ray McDermott, has submitted a bid to build an oil platform for Petrobras' Papa-Terra heavy oilfield project.
Jurong Shipyard Secures FPSO Conversion Contract for Jubilee Devt
Tuesday, August 04, 2009 Jurong Shipyard has secured a contract to convert a VLCC tanker into a FPSO vessel for installation on the Jubilee field, offshore Ghana.
COSCO Snags FPSO Conversion Contract
Monday, May 04, 2009 COSCO Dalian secured a major contract to convert a tanker to a FPSO, which will be redelivered to MODEC in 2010 and deployed in Petrobras' Tupi Field.
VWS Westgarth Snags Contract for PSVM FPSO Project in Angola's Block 31
Friday, April 03, 2009 MODEC awarded VWS Westgarth a multi-million dollar contract for the PSVM FPSO project for the BP Angola PSVM field development in Block 31.
MODEC Shuffles Corporate Management
Monday, February 23, 2009 MODEC's Board of Directors has proposed to promote Nobuhiro Yaji to President and Co-CEO of the company, Shashank Karve to Managing Director and COO and Kenji Yamada as Chairman, in addition to his current position as MODEC's CEO.
Petrobras Could Cancel P-61 Platform Tender
Friday, December 19, 2008 Petrobras could cancel a tender for the P-61 oil platform after prices came in higher than expected. The platform would have been the first TLP installed in Brazil, destined for production at the Papa Terra field in the Campos Basin.
MODEC Awards Jurong FPSO Conversion for Angola's Block 31 PSVM Fields
Tuesday, December 09, 2008 Jurong Shipyard has secured a contract from MODEC to convert a tanker to a FPSO that will operate in BP's PSVM Fields in Block 31 offshore Angola.
MODEC's FPSO Song Doc Pride Achieves First Oil
Monday, December 08, 2008 MODEC has announced that the FPSO Song Doc Pride MV19, owned and operated by MODEC and leased to Truong Son Joint Operating Company achieved first oil from the Song Doc field offshore Vietnam.
Truong Son Joint Operating Co. Fires Up Production at Song Doc Field
Friday, December 05, 2008 Oil production has commenced from the Song Doc field in Block 46/02 offshore Vietnam.
AETI Alliance Group to Service Brazilian Offshore Drilling, Marine Markets
Thursday, December 04, 2008 American Electric Technologies will provide offshore services to the Brazilian offshore drilling and marine markets.