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MODEC to Deliver Highly Complex FPSO for Equinor's $9B Project Offshore Brazil

Maritime Activity Reports, Inc.

May 10, 2023

Credit: MODEC

Credit: MODEC

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 recoverable reserves above one billion barrels of oil equivalent.

"The FPSO is one of the most complex facilities in MODEC’s history, handling large volumes of exported gas with a major focus on GHG emissions reduction." MODEC said. 

Apart from delivering the FPSO, which is expected in 2027, MODEC will also provide Equinor with operations and maintenance service of the FPSO for the first year from its first oil production, after which Equinor plans to operate the FPSO.

The FPSO will be deployed at the field, located in the giant "pre-salt" region at the southern part of Campos Basin, approximately 200 kilometers off the coast of Rio de Janeiro, and permanently moored at a water depth of approximately 2,900 meters. 

The spread mooring system will be supplied by MODEC group company, SOFEC, Inc. Equinor's field partners are Repsol Sinopec Brazil (35%) and Petrobras (30%).

MODEC will be responsible for the design and construction of the FPSO, including topsides processing equipment and hull marine systems. The FPSO will have topsides designed to produce approximately 125,000 barrels of crude oil per day as well as produce and export approximately 565 million standard cubic feet of associated gas per day. Its minimum storage capacity of crude oil will be 2,000,000 barrels.

The FPSO will apply MODEC’s new build, full double hull design, developed to accommodate larger topsides and larger storage capacity than conventional VLCC tankers, with a longer design service life.

"Taking advantage of this larger topside space, this FPSO will be the second fully electrified FPSO equipped with Combined Cycle System for Power Generation which significantly reduces carbon emission compared with conventional Gas Turbine driven systems," MODC said.

“We are extremely honored and proud to be selected to provide an FPSO for the BM-C-33 project,” commented Takeshi Kanamori, President and CEO of MODEC. “We are equally proud of the confidence Equinor obviously has in MODEC. We believe this award represents a strong relationship of trust between us built upon the ongoing Bacalhau FPSO project as well as our robust track record in the pre-salt region. We look forward to cooperating closely with Equinor and partners to make this project a success.”

The FPSO will be 18th FPSO/FSO vessel and 10th FPSO in the pre-salt region delivered by MODEC in Brazil.