Modec News

Singapore-based Seatrium has secured a series of major contracts for vessel repairs, upgrades and conversions, set for completion by the end of 2025.With an aggregate value of S$350 million ($259 million), the contracts have reinforced Seatrium’s reputation as a one of the market leaders in vessel repairs, upgrades and conversions.The diverse range of complex contracts secured by Seatrium Repairs and Upgrades include the upgrades and conversions of Floating Storage Regasification Units (FSRU)…

The specialized deepwater oil & gas and floating offshore wind segments will share many of the same stakeholders and supply chains, competing for increasingly scarce resources.To receive a full version of Inteletus analysis, click hereThe established floating production segment is forecast to experience continued growth through this decade, driving demand for, among other things, moorings, subsea systems, umbilicals, risers, flowlines and the large anchor handlers and subsea support vessels that will install and maintain the elements.At the same time…

The first hybrid Platform Supply Vessel (PSV), which uses batteries and diesel for propulsion, has started operating for Equinor in Brazil.With the battery bank installed, the PSV is able to operate with hybrid propulsion, switching between the use of electricity and diesel. This is expected to reduce emissions by up to 40% during vessel’s activities.The PSV will be part of the logistics of the Bacalhau field, in the Santos Basin, where Equinor has a majority stake secured in…

MODEC and Toray Industries have jointly developed a carbon fiber-reinforced plastic (CFRP) patch technique for repairs on Floating Production, Storage and Offloading (FPSO), and Floating Storage and Offloading (FSO) systems.FPSO and FSO repair services provided by MODEC, a general contractor specializing in engineering, construction, operation, and maintenance services of offshore oil and gas vessels, will utilize this CFRP patch technique for pitting corrosion repair from 2024.The American Bureau of Shipping (ABS)…

Japanese FPSO leasing firm MODEC said Thursday that the first steel-cutting ceremony for the Guyana-bound FPSO Errea Wittu had been held in China.MODEC secured its first order to supply an FPSO to Guyana in May 2023. The order came from an ExxonMobil-led consortium and is for the deployment of the FPSO to the giant Stabroek offshore block in Guyana, where Exxon already has three FPSOs in production, all three supplied by SBM Offshore.According to World Energy Reports, China's DSIC has the construction hull contract…

Dutch firm SBM Offshore said Friday it had won contracts to perform front-end engineering and design (FEED) for a floating production, storage, and offloading vessel (FPSO) for the ExxonMobil-led Whiptail development project in Guyana.Following FEED and subject to government approvals in Guyana of the development plan, and project sanction, including the final investment decision by ExxonMobil, to release the second phase of work, SBM Offshore will construct and install the FPSO.

Japanese FPSO supplier MODEC has won a contract with Equinor to supply an FPSO vessel for the BM-C-33 block of the Campos Basin offshore Brazil. The order comes just days after Equinor and its partners Repsol Sinopec Brasil, and Petrobras took the $9 billion investment decision to develop the BM-C-33 project in Brazil. Located in the Campos Basin, BM-C-33 comprises three different pre-salt discoveries – Pão de Açúcar, Gávea and Seat – containing natural gas and oil/condensate…

Japan's MODEC said Monday it would proceed with engineering, procurement, and construction on the Uaru FPSO vessel following a final investment decision on the Uaru offshore oil project by ExxonMobil in Guyana last month.The Uaru FPSO is named ‘Errea Wittu’, which means ‘abundance,’ and will be the fifth offshore FPSO in Guyana and the first to be supplied by MODEC. The first four, two of which are now in production in the Stabroek block off Guyana, were/will be delivered by SBM Offshore.Apart from supplying the Errea Wittu FPSO…

Exxon Mobil Corp. is preparing to approve its fifth oil production project in Guyana and is considering taking additional exploration acreage, the head of its Guyanese operations, Alistair Routledge, told Reuters in an interview. The efforts would add significantly to the $30 billion committed thus far by Exxon and Guyana partners Hess Corp and CNOOC Ltd. The latest development will cost about 27% more than the last, a new estimate showed, reflecting inflation and the larger scope of the project.

As we enter the final month of 2022, a review of the floating production system (FPS) market revealed that some E&Ps have been bold with investments in the development of their oil and gas (O&G) reserves, with a total of 1.9 mmboepd (1.3 mmbpd of oil and 3.8 bcfd of gas) of FPS throughput capacity sanctioned year to date (YTD). This represents a 7% increase on 2021, with Westwood anticipating an additional 180 kboepd of FPS throughput capacity to be sanctioned before the end of the year.

Japanese floating oil and gas production systems provider MODEC has signed a contract to perform Front End Engineering and Design (FEED) for an FPSO vessel for ExxonMobil's “Uaru” oil field development project offshore Guyana.The FEED contract award relates to the initial funding by ExxonMobil’s subsidiary, Esso Exploration and Production Guyana Limited (EEPGL), to begin FEED activities related to the FPSO design and to secure the second M350TM hull for FPSO service.Following FEED and subject to government approvals in Guyana of the development plan…

Maritime classification society The American Bureau of Shipping (ABS) on Monday launched detailed requirements for greener offshore operations in what it said was the first sustainability guide to target the offshore industry."Developed by working with major offshore industry clients, ABS today launches a revised sustainability guide expanded with offshore asset compliance requirements.The updated ABS Guide for Sustainability Notations addresses topside functions on offshore assets such as emissions and discharge based on feedback from ABS clients…

Classification society ABS announced it has appointed veteran offshore industry leader Miguel Hernandez to head its offshore division. The former MODEC general manager of sales and marketing is now ABS Senior Vice President of Offshore Business Development, leading global offshore including the FPSO, FPU and floating offshore wind sectors.“As the world’s leading offshore class, we are always looking to innovate and develop our services for clients. This is why we have appointed Miguel…

Keppel Offshore & Marine Ltd (Keppel O&M)’s wholly-owned subsidiaries, Keppel AmFELS in the U.S. and Keppel Shipyard in Singapore, have been awarded contracts worth around S$75 million (US$54.5 million) for the refurbishment and completion of two floating production units (FPU). The first contract is by Keppel AmFELS with Salamanca FPS Infra, LLC for the refurbishment of a floating production unit to be operated by LLOG Exploration Offshore, LLC, a private exploration and production company in the U.S.Keppel AmFELS’ scope of work on the production facility includes demolition…

Dutch FPSO leasing specialist SBM Offshore said Thursday it had completed the US$1.75 billion project financing for the FPSO One Guyana. The company has previously said that this would be the company's largest FPSO so far. It will be deployed at ExxonMobil's Yellowtail development, offshore Guyana.The Dutch firm, which is behind all four FPSO projects in Guyana, said the One Guyana project financing was secured by a consortium of 15 international banks. SBM Offshore expects to draw the loan in full, phased over the construction period of the FPSO.

Japanese FPSO leasing company MODEC said Wednesday that the FPSO Almirante Barroso MV32 had started its navigation towards Brazil last Sunday. The FPSO is bound for deployment at Petrobras' Búzios deepwater oil field.The FPSO left the Cosco shipyard in China on Sunday, July 17. It will carry out navigation tests for five days in the Chinese waters, then make stops in Singapore and Mauritius, where it will supply and change the crew, before arriving in Brazil at the BrasFELs shipyard…

Offshore services company Havfram announced it has been awarded a contract from MODEC Offshore Production Systems (Singapore) Pte Ltd. (MODEC) for the pre-installation of the subsea mooring system for a floating production storage and offloading (FPSO) in 2022.MODEC’s parent company, MODEC, Inc., will supply this facility to Woodside, for deployment in Senegal as part of the Sangomar Field Development Phase 1 project. This phase will target approximately 230 million barrels of…

Oil and gas production has started from FPSO Guanabara offshore Brazil, the first definitive production system installed in the Petrobras-operated Mero field, in the Santos Basin pre-salt. Three more FPSOs are planned for deployment at the Mero field.The Mero field has been in pre-production since 2017 with the 50,000 barrels of oil per day Pioneiro de Libra FPSO.The Guanabara FPSO is capable of processing up to 180 thousand barrels of oil and 12 million m3 of gas, which represents 6% of the production operated by Petrobras…

Singapore's Keppel Offshore & Marine said Wednesday it had secured contracts worth around S$250 million (~$186 million) for the conversion of a Floating Storage and Regasification Unit (FSRU), integration of a Floating Production Storage and Offloading (FPSO) vessel, and the "jumboisation" of two Trailing Suction Hopper Dredgers (TSHD).For the first contract, Keppel Shipyard has received the Final Notice to Proceed (FNTP) from GAS-fifteen Ltd, a  GasLog Carriers subsidiary, for the conversion of a Liquefied Natural Gas (LNG) Carrier into an FSRU.

The Guanabara FPSO has arrived at the Mero field in the Santos Basin, offshore Brazil, the Brazilian state-run oil company Petrobras has informed.The FPSO, also known as Mero 1, will be the first 'definitive' oil production system at the Mero field, the third largest pre-salt field behind Búzios and Tupi. MODEC is responsible for the engineering, procurement, construction, mobilization, installation and operation of the FPSO, including topsides processing equipment as well as hull and marine systems.

Dutch floating oil and gas production firm SBM Offshore has secured a $620 million bridge loan facility for the financing of the construction of FPSO Alexandre de Gusmão, to be deployed in Brazil for Petrobras.The FPSO Alexandre de Gusmão will be deployed at the Mero field in the Santos Basin offshore Brazil. Mero is a project under Libra Consortium responsibility, in which Petrobras is the operator with 40 percent and with the following partners: Shell Brasil with 20 percent, TotalEnergies with 20 percent, CNODC and CNOOC Limited with 10 percent each, together with Pré-sal Petróleo S.A.

American Bureau of Shipping has further developed its approach to aging offshore assets with the publication of the Guide for Life Extension of Floating Production Installations.ABS said that the guidance supported operators looking to extend the operational life of a floating production installation (FPI) by outlining clear Class requirements with a focus on safety. It is informed by lessons learned from ABS-supported life extension projects and the findings of a series of FPI life extension joint development projects.Critical issues addressed include pre-life extension data collection…

The world’s FPSO fleet is getting older, with 55 FPSO units in the global fleet reaching the end of their design life in the next five years, with an additional five having life extension in place. With 19 more FPSOs currently being evaluated for life extension, safety issues and structural integrity concerns come to the fore? Matt Tremblay, ABS Vice President, Global Offshore, explains the challenges for FPSO operators, and discusses why a new working group comprised of major…