MODEC International Company News

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FPSO License Expiry Wave Could Help Marginal Field Operators
A record number of FPSO vessel licenses are set to expire in 2022, according to Westwood Global Energy Group.
8:00 PM EST | May 23, 2021
MODEC Selects Asset Management Firm for Brazil FPSO Project
ARMS Reliability will assist with developing the Bacalhau FPSO Asset Maintenance Management Philosophy. PHOTO SOURCE: ARMS Reliability
7:00 PM EST | November 25, 2020
$455MM in Brazil Contracts Go to Oilfield Services Trio
First oil from Bacalhau is projected for 2024. PHOTO SOURCE: Equinor
7:00 PM EST | November 09, 2020
McDermott Ships FPSO Modules from Mexico Yard
The second topside module shipment for a MODEC FPSO has left McDermott’s Altamira fabrication yard. PHOTO SOURCE: McDermott
7:00 PM EST | November 05, 2020
Offshore Mexico Project Hits FPSO Milestone
McDermott reported Wednesday the first shipment of topside modules for an FPSO for MODEC. PHOTO SOURCE: McDermott
8:00 PM EST | October 07, 2020
Modec FPSO Contracts Go to Keppel
Above is an aerial view of the Keppel’s Tuas Shipyard in Singapore. PHOTO SOURCE: Keppel O&M
8:00 PM EST | July 15, 2020
Rystad Sees Speedy FPSO Comeback
2021 should mark a recovery period for FPSO contract awards, Rystad Energy predicts.
8:00 PM EST | July 08, 2020
Brazil FPSO Contract Goes to Aibel
Service company Aibel reported that it has won a FEED contract for an FPSO that MODEC will construct for Equinor.
7:00 PM EST | February 05, 2020
FPSO Prospects Look Promising for 2020
The global market for Floating Production, Storage and Offloading vessels is headed for a major recovery.
7:00 PM EST | December 25, 2019
Offshore Mexico FPSO Contract Goes to Modec
Eni Mexico to deploy the FPSO in Offshore Area 1
8:00 PM EST | October 11, 2018
Shell Extends MODEC's Contract for FPSO Fluminense to December 2020
Shell extends MODEC's contract for FPSO Fluminense, currently operating in the Bijupira and Salema oil fields in Brazil's Campos Basin to December 2020.
8:00 PM EST | September 01, 2016
Keppel's BrasFELS Completes Project for MODEC's FPSO
Singapore-based Keppel's subsidiary BrasFELS Shipyard completes an integration and completion project for FPSO Cidade de Caraguatatuba MV27 for MODEC.
8:00 PM EST | June 28, 2016
McDermott Joins 14 Other Offshore Firms to Establish Industry Standards
McDermott joins 14 other offshore companies to establish engineering industry standards.
8:00 PM EST | May 18, 2016
Keppel's Unit BrasFELS Bags $141M FPSO Contract from MODEC
Keppel's BrasFELS shipyard bags a $141 million module fabrication and integration project from MODEC for FPSO Cidade de Campos dos Goytacazes MV29.
8:00 PM EST | April 06, 2016
Japan's MES Ventures into the FPSO Business
Japan's Mitsui Engineering and Shipbuilding Co. ventures into the floating production, storage and offloading business.
7:00 PM EST | January 31, 2016
Keppel Bags $88.4M Contracts, Including Two Conversion Projects
Singapore's Keppel Offshore & Marine bags four contracts, worth $88.4 million, including two conversion projects.
7:00 PM EST | December 30, 2015
Sembcorp Marine Bags MODEC's FSO Construction Contract for Culzean Field
Sembcorp Marine bags a contract to design and build a new floating storage and offloading vessel for MODEC to be deployed to Maersk's Culzean field in the North Sea.
7:00 PM EST | November 18, 2015
MODEC Bags FSO Supply Contract from Maersk Oil for Culzean Field
MODEC bags contract to supply a floating storage and offloading vessel to Maersk Oil for the Culzean field in the North Sea.
8:00 PM EST | September 15, 2015
JBIC Inks $252M Loan Deal to Support Petrobras FPSO Project
The Japan Bank for International Cooperation inks a $252 million loan deal with Tartaruga MV29 B.V. to support the project to provide a floating production storage and offloading vessel to Petrobras for two offshore oil fields in Brazil.
8:00 PM EST | September 14, 2015
FPSO Cidade de Itaguai Arrives at Iracema Norte Area in Santos Basin
FPSO Cidade de Itaguai arrives in Iracema Norte area in Santos Basin, offshore Brazil to prepare for oil production in the third quarter of this year.
8:00 PM EST | July 05, 2015
Cosco Dalian Bags MODEC's $95M FPSO Conversion Contract
China's Cosco Dalian bags MODEC's $95 million floating production, storage and offloading conversion contract.
8:00 PM EST | April 22, 2015
MODEC Secures Japanese Partners in Petrobras FPSO Project
Three Japanese partners join MODEC to provide a floating production, storage and offloading vessel to Petrobras for the Tartaruga Verde and Tartar Mestica oil fields offshore Brazil.
8:00 PM EST | April 13, 2015
Modec Commences Charter for FPSO Cidade de Mangaratiba MV24 in Santos Basin
Modec announces the commencement of a charter for FPSO Cidade de Mangaratiba MV23 at BM-S-11 block in Santos Basin, offshore Brazil.
7:00 PM EST | December 07, 2014
Modec-Schahin JV to Supply FPSO for Petrobras' Campos Basin Block BM-C-36
The Modec-Schahin joint venture bags a contract from Petrobras to supply a floating production, storage and offloading vessel for the BM-C-36 block in the Campos Basin, offshore Brazil.
7:00 PM EST | December 01, 2014
Jurong Shipyard Bags MODEC's FPSO Contract for Ghana's TEN Development
Jurong Shipyard bags a contract from MODEC for a floating production, storage and offloading conversion project for the Tullow Oil-operated TEN development project offshore Ghana.
8:00 PM EST | October 19, 2014
Petrobras Commences Production at Santos Basin Pre-Salt Iracema Sul Area
Petrobras commences production from the Cidade de Mangaratiba floating production, storage and offloading vessel at the Santos Basin pre-salt area of Iracena Sul in Lula field, offshore Brazil.
8:00 PM EST | October 14, 2014
Aibel Cuts First Steel for Topside Modules for Tullow's TEN Project
Aibel Thailand cuts first steel for topside modules for the Tweneboa, Enyenra and Ntomme (TEN) project.
8:00 PM EST | March 17, 2014
Dyna-Mac Clinches $33M Fabrication Orders
Dyna-Mac Holdings clinches $33 million of fabrication orders from Keppel FELS, Bumi Armada-Shapoorji Pallonji joint venture and Modec.
7:00 PM EST | February 20, 2014
Modec-Schahin JV Wins FPSO Supply Deal for Block BM-S-9 in Santos Basin
Petrobras' subsidiary Guara, on behalf of the BM-S-9 block consortium, awards the Modec-Schahin joint venture a charter contract for the supply of a floating, production, storage and offloading vessel in the Santos Basin, Brazil.
7:00 PM EST | November 04, 2013
Modec, Schahin Sign LOI to Supply FPSO for Block BM-S-9 in Santos Basin
Petrobras' affiliate Guara signs a letter of intent with Modec and Schahin Petroleo e Gas to charter a floating production, storage and offloading vessel for the Carioca area in Block BM-S-9 in Brazil's Santos Basin.
8:00 PM EST | October 30, 2013
Mitsui, Marubeni, MOL Join MODEC in TEN FPSO Project
MODEC reports that Mitsui, Marubeni and Mitsui O.S.K Lines will participate in its project to supply a floating production, storage and offloading vessel for the TEN development off Ghana.
8:00 PM EST | September 29, 2013
MODEC Bags FPSO Contracts for TEN Project
MODEC's unit bags deals to supply, charter, lease and maintain a floating, production, storage and offloading (FPSO) vessel for the TEN project off Ghana.
8:00 PM EST | August 04, 2013
MODEC Proceeds with Work on Stampede TLP
MODEC International executes a pre-sanction contract to provide engineering and management services for the Stampede tension leg platform in the Gulf of Mexico.
8:00 PM EST | July 17, 2013
OMV Awards Contract to MODEC for Maari Field
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.
7:00 PM EST | November 13, 2012
Rise of Chinese Shipyards in the FPSO Industry
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.
8:00 PM EST | October 10, 2012
Modec, Mitsui, Marubeni Charter FPSO for Cernambi Sul
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.
8:00 PM EST | March 22, 2012
Jurong Shipyard Bags FPSO Conversion Proj. from MODEC
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.
8:00 PM EST | October 03, 2011
MODEC, Schahin Enter LOI in Guara Block
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.
8:00 PM EST | August 22, 2010
Ghana's First FPSO to Set Sail
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.
8:00 PM EST | May 03, 2010
Asian Cos Participate in Pre-Salt Brazil FPSO Charter
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.
8:00 PM EST | March 30, 2010
LOI Signed for Pre-Salt Guara FPSO
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.
7:00 PM EST | January 27, 2010
Petrobras Awards FEED Contract for Floating LNG Unit
Petrobras, BG Group, Repsol and Galp have awarded the tender to develop the FEEDs for an onboard natural gas liquefaction unit.
7:00 PM EST | December 20, 2009
Deepwater Oil Finds Spur NYK to Invest in New Vessels
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.
8:00 PM EST | September 09, 2009
FloaTEC Submits Bid for $1.1B Papa-Terra Platform Tender
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.
8:00 PM EST | September 02, 2009
Jurong Shipyard Secures FPSO Conversion Contract for Jubilee Devt
Jurong Shipyard has secured a contract to convert a VLCC tanker into a FPSO vessel for installation on the Jubilee field, offshore Ghana.
8:00 PM EST | August 03, 2009
COSCO Snags FPSO Conversion Contract
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.
8:00 PM EST | May 03, 2009
VWS Westgarth Snags Contract for PSVM FPSO Project in Angola's Block 31
MODEC awarded VWS Westgarth a multi-million dollar contract for the PSVM FPSO project for the BP Angola PSVM field development in Block 31.
8:00 PM EST | April 02, 2009
MODEC Shuffles Corporate Management
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.
7:00 PM EST | February 22, 2009
Petrobras Could Cancel P-61 Platform Tender
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.
7:00 PM EST | December 18, 2008
MODEC Awards Jurong FPSO Conversion for Angola's Block 31 PSVM Fields
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.
7:00 PM EST | December 08, 2008