MODEC International Company News

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Brazil FPSO Contract Goes to Aibel
Thursday, February 06, 2020 Service company Aibel reported that it has won a FEED contract for an FPSO that MODEC will construct for Equinor.

FPSO Prospects Look Promising for 2020
Thursday, December 26, 2019 The global market for Floating Production, Storage and Offloading vessels is headed for a major recovery.

Offshore Mexico FPSO Contract Goes to Modec
Friday, October 12, 2018 Eni Mexico to deploy the FPSO in Offshore Area 1

Shell Extends MODEC's Contract for FPSO Fluminense to December 2020
Friday, September 02, 2016 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.

Keppel's BrasFELS Completes Project for MODEC's FPSO
Wednesday, June 29, 2016 Singapore-based Keppel's subsidiary BrasFELS Shipyard completes an integration and completion project for FPSO Cidade de Caraguatatuba MV27 for MODEC.

McDermott Joins 14 Other Offshore Firms to Establish Industry Standards
Thursday, May 19, 2016 McDermott joins 14 other offshore companies to establish engineering industry standards.

Keppel's Unit BrasFELS Bags $141M FPSO Contract from MODEC
Thursday, April 07, 2016 Keppel's BrasFELS shipyard bags a $141 million module fabrication and integration project from MODEC for FPSO Cidade de Campos dos Goytacazes MV29.

Japan's MES Ventures into the FPSO Business
Monday, February 01, 2016 Japan's Mitsui Engineering and Shipbuilding Co. ventures into the floating production, storage and offloading business.

Keppel Bags $88.4M Contracts, Including Two Conversion Projects
Thursday, December 31, 2015 Singapore's Keppel Offshore & Marine bags four contracts, worth $88.4 million, including two conversion projects.

Sembcorp Marine Bags MODEC's FSO Construction Contract for Culzean Field
Thursday, November 19, 2015 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.

MODEC Bags FSO Supply Contract from Maersk Oil for Culzean Field
Wednesday, September 16, 2015 MODEC bags contract to supply a floating storage and offloading vessel to Maersk Oil for the Culzean field in the North Sea.

JBIC Inks $252M Loan Deal to Support Petrobras FPSO Project
Tuesday, September 15, 2015 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.

FPSO Cidade de Itaguai Arrives at Iracema Norte Area in Santos Basin
Monday, July 06, 2015 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.

Cosco Dalian Bags MODEC's $95M FPSO Conversion Contract
Thursday, April 23, 2015 China's Cosco Dalian bags MODEC's $95 million floating production, storage and offloading conversion contract.

MODEC Secures Japanese Partners in Petrobras FPSO Project
Tuesday, April 14, 2015 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.

Modec Commences Charter for FPSO Cidade de Mangaratiba MV24 in Santos Basin
Monday, December 08, 2014 Modec announces the commencement of a charter for FPSO Cidade de Mangaratiba MV23 at BM-S-11 block in Santos Basin, offshore Brazil.

Modec-Schahin JV to Supply FPSO for Petrobras' Campos Basin Block BM-C-36
Tuesday, December 02, 2014 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.

Jurong Shipyard Bags MODEC's FPSO Contract for Ghana's TEN Development
Monday, October 20, 2014 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.

Petrobras Commences Production at Santos Basin Pre-Salt Iracema Sul Area
Wednesday, October 15, 2014 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.

Aibel Cuts First Steel for Topside Modules for Tullow's TEN Project
Tuesday, March 18, 2014 Aibel Thailand cuts first steel for topside modules for the Tweneboa, Enyenra and Ntomme (TEN) project.

Dyna-Mac Clinches $33M Fabrication Orders
Friday, February 21, 2014 Dyna-Mac Holdings clinches $33 million of fabrication orders from Keppel FELS, Bumi Armada-Shapoorji Pallonji joint venture and Modec.

Modec-Schahin JV Wins FPSO Supply Deal for Block BM-S-9 in Santos Basin
Tuesday, November 05, 2013 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.

Modec, Schahin Sign LOI to Supply FPSO for Block BM-S-9 in Santos Basin
Thursday, October 31, 2013 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.

Mitsui, Marubeni, MOL Join MODEC in TEN FPSO Project
Monday, September 30, 2013 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.

MODEC Bags FPSO Contracts for TEN Project
Monday, August 05, 2013 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.

MODEC Proceeds with Work on Stampede TLP
Thursday, July 18, 2013 MODEC International executes a pre-sanction contract to provide engineering and management services for the Stampede tension leg platform in the Gulf of Mexico.

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.

MODEC's FSO Achieves First Oil at Rang Dong Offshore Vietnam
Wednesday, November 05, 2008 The FSO Rang Dong MV17 has achieved first oil from the Rang Dong Field on Block 15-2 offshore Vietnam.

ABS to Class Pilot FPSO for Tupi Field Offshore Brazil
Wednesday, October 29, 2008 ABS has been selected to class the pilot floating production, storage and offloading unit for the Tupi field in the Santos Basin offshore Brazil.

Toyo Targeted for FPSO Topside Work at Angola's Block 31
Thursday, October 23, 2008 Toyo Engineering Corporation has been awarded Detailed Topside Engineering work by MODEC Offshore Production Systems for the Topsides of an FPSO destined for offshore West Africa.

Aker to Deliver Process Systems for Brazilian Tupi Project
Thursday, October 02, 2008 Modec awarded a contract to Aker Solutions for the delivery of topside Seawater Treatment and Sulphate Removal module for the "Tupi Pilot" project on the Brazilian Tupi field.