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Modec International Inc News

18 Jul 2018

MODEC Secures FPSO FEED Contract

MODEC, Inc. subsidiary MODEC International Inc. has been awarded a contract by ConocoPhillips Australia, as operator of the Barossa joint venture, for the Front End Engineering Design (FEED) of a floating production storage and offloading (FPSO) vessel for Australian waters.Under the contract, MODEC will participate in the FEED on a competitive basis against a JV of two other contractors.Barossa is an offshore gas and light condensate project that proposes to provide a new source of gas to the existing Darwin LNG facility. The offshore development concept includes subsea production system and gas export pipeline as well as the FPSO, located approximately 300 kilometers north of Darwin, Australia.

15 Mar 2012

OSX Raises $500 Million With Bond Issue

OSX raised $500 million by issuing Senior Secured Bonds in the international market, the net proceeds of which shall be used for the construction of its FPSO OSX-3. “The issue of a $500 million Bond by OSX in the private international market reaffirms the soundness and consistency of OSX’s projects. In addition to launching our presence in the international fixed income market, this operation consolidates the partnerships OSX has been building with global financial institutions. The construction of FPSO OSX-3 moves steadily towards its oil production in Brazil.” said Luiz Carneiro, CEO of OSX. The FPSO OSX-3 will have an oil production capacity of 100.000 bopd and a storage capacity of up to 1.300.000 bbls.

20 Nov 2008

ABS Council Adds Members

At the recent ABS Council meeting, 31 prominent members of the shipping and offshore industries were elected as new members of the prominent international classification society. The ABS Council also elected seven new members to the society’s Technical Committee. “Our strength as a classification society is the breadth of experience and depth of wisdom of our membership,” said ABS Chairman & CEO Robert D. Somerville. Zamil A. Thomas J. Angiolino, Senior Vice President, Willis of New York, Inc. Commodore R. Balasubrmaniam, IN (Retd.), Director, Rajapur Shipyard Pvt. Ltd. Dong-Su Choi, President & CEO, SLS Shipbuilding Co., Ltd. Robert G. George A. Cupstid, Senior Vice President and General Manager, LeTourneau Technologies, Inc. Tim E. Steven Durrell, President, Irving Shipbuilding Inc.