MODEC and SEA Systems Shake Hands

Shashank Karve, President and CEO of MODEC International LLC and Doug Kinloch, President of SEA Systems Ltd., a member of the AMI Group of Companies, announced the signing of an exclusive frame agreement. Under the agreement, SEA Systems becomes the principle provider of electrical, control and instrumentation services to MODEC International including engineering and specialist personnel. Karve said, "We are very pleased to have concluded this agreement with SEA. They have a consistently excellent track record in providing services for floating energy systems starting in their home territories in Canada and growth areas including Brazil and the U. S. Gulf of Mexico." Doug Kinloch added, "We are enormously pleased in the trust and confidence that MODEC has placed in us. Working with this leading global supplier and operator of floating energy systems is an excellent opportunity for us to showcase the skills we have acquired over the last decade." Karve noted, "with the increasing emphasis on a systems approach to control philosophy as well as the requirement to adequately handle the increasing data from producing operations, we are confident that having this strategic competence in-house will add tremendous value to our organization and our clients." Kinloch added, "It is particularly appropriate that we are announcing this at the World Petroleum Congress in Rio with our Brazilian partners present. Our Brazilian company, Unicontrol International, is just finishing the controls and instrumentation contract for P43/P48 Barracuda & Caratinga." MODEC is on schedule to commission the FPSO Fluminense for the Bijupirá and Salema fields mid 2003. John Lane, General Manager of FPSOs and FSOs for MODEC International and Phil Bentley, Managing Director of SEA Systems are co-sponsors of the agreement and both expressed enthusiasm for the agreement. "This will allow us to focus on our core business of providing world-class FPSOs and FSOs while having the provision of best-in-class electrical and instrumentation services on an as required basis" said Lane. Bentley echoed the sentiment, "By working together, we will be able to compliment each other greatly in the provision of world class solutions for our customers."