MODEC to Provide, Operate Jubilee Field's First FPSO
MODEC has reached an agreement with the Jubilee Field Partners and Tullow Ghana Ltd. (Unit Operator) to provide and operate the first FPSO to be installed on the Jubilee Field offshore Ghana. The agreement was entered into by Tullow Ghana Ltd. on behalf of the Jubilee Field partners: Tullow Ghana Ltd., Kosmos Energy Ghana, Anadarko Petroleum Corporation, EO Group, Sabre Oil and Gas, and the Ghana National Petroleum Corporation (GNPC). The contract is a seven year lease with 13 one-year options.
The FPSO, part of the Phase 1 development plan, will be installed in approximately 1,100 meters water depth on the Jubilee Field, which is one of the largest oil fields discovered offshore West Africa in the past 10 years. It will be capable of processing more than 120,000 barrels of oil per day, and injecting more than 230,000 barrels of water per day and 160 million standard cubic feet of gas per day. First oil is scheduled in 2010 and the FPSO is designed to remain on the field for up to 20 years.
Kenji Yamada, President & CEO of MODEC, Inc., said, "MODEC is very proud to have been selected by the Jubilee Unit partners and GNPC to provide and operate the Jubilee FPSO, a world class facility on a world class field. We are equally pleased to be a part of the team that will provide a needed energy resource to benefit the people of Ghana."
Rick Hall, President of MODEC International, Inc., added, "The Jubilee award represents a significant milestone for MODEC in assisting Tullow and its partners to develop a world class oil field while also strengthening MODEC’s infrastructure in West Africa. Following the Jubilee Phase 1 FPSO award along with the recently awarded FPSO to be installed offshore Angola, MODEC will have operations in Ghana, Angola and Cote d’Ivoire with additional MODEC supplied facilities operating in Nigeria, Equatorial Guinea, Cameroon and Gabon."
- No More Free Lunch Is the Big Change Under Way in the Oil Market (Oct 09)
- Anadarko To Spend $2.5B On Massive Share Buyback (Sep 20)
- Harvey Could Become First Hurricane to Strike Texas Since 2008 (Aug 23)
Company: Tullow Oil more info
Operates 1 Offshore Rigs
- Tullow Oil Signs Exploration Contracts Offshore Ivory Coast (Oct 11)
- Britain's Tullow Launches Oil, Gas Exploration In Zambia (Aug 11)
- European Oil Producers' Weak Hedging Shows Bet on Price Rebound (Jul 31)
Company: Kosmos Energy more info
- BP's West Africa Partner Kosmos To List In London By End-September (Aug 02)
- BP, Kosmos Make Major Gas Find Off Coast Of Senegal (May 08)
- BP to Create New LNG Hub in Africa with Latest Kosmos Buy (Dec 19)
Company: MODEC International more info
- Shell Extends MODEC's Contract for FPSO Fluminense to December 2020 (Sep 02)
- Keppel's BrasFELS Completes Project for MODEC's FPSO (Jun 29)
- McDermott Joins 14 Other Offshore Firms to Establish Industry Standards (May 19)
Company: Ghana National Petroleum more info
- Russia's Gazprom Signs LNG Supply Deal With Ghana (Sep 18)
- National Petroleum: Ghana Oil Output To Hit Up To 110,000 Bpd In 2014 (Apr 08)
- Ghana President Names New Head of State Oil Company (Sep 20)
Company: Sabre Oil and Gas Limited more info
- Tweneboa Confirmed as Major Field Offshore Ghana (Jan 21)
- Odum-2 Appraisal Well Confirms '08 Discovery Offshore Ghana (Dec 08)
- Massive Jubilee Field Extended by Successful Appraisal (Oct 15)