Modec-Schahin JV to Supply FPSO for Petrobras' Campos Basin Block BM-C-36

Japan's Modec, Inc. (Modec) announced Tuesday that the company and its Brazilian partner Schahin Group have been awarded a contract for supply, charter, and operations of a Floating, Production, Storage, and Offloading (FPSO) vessel for the BM‐C‐36 block (Tartaruga Verde and Tartaruga Mestica fields) in the Campos Basin by Petroleo Brasileiro S.A. (Petrobras). This announcement is further to the Letter of Intent (LOI) which was issued Nov. 28.

The FPSO will be deployed at Tartaruga Verde and Tartaruga Mestica fields in the BM‐C‐36 block in the Campos Basin in water depth of 2,509 feet (765 meters). The BM‐C‐36 block is 100 percent‐owned by Petrobras.

Modec and Schahin Group are responsible for the engineering, procurement, construction, mobilization, installation and operation of the FPSO, including topsides processing equipment as well as hull and marine systems. SOFEC, Inc., a subsidiary of MODEC, will design and supply the spread mooring system.

The FPSO will be capable of processing 150,000 barrels of crude oil per day, 176 million standard cubic feet of gas per day, 200,000 barrels of water injection per day and has storage capacity of about 1,600,000 barrels of crude oil.

The FPSO delivery is scheduled in the third quarter of 2017.

"We are very honored to be awarded the memorable 10th FPSO/FSO vessel from Petrobras, as well as Modec’s 12th unit in Brazil,” said Toshiro Miyazaki, president and CEO of Modec. “We are committed to carry out the project along with Schahin Group in order to contribute to the foundation for the development of energy industries in Brazil.”

The Schahin Group has a significant presence in the drilling services market and has been working with Petrobras Group and Consortia in which Petrobras has been participating since 1982. The Schahin Group is pleased to expand into production services via the partnership with Modec and Petrobras.


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