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Floating Production Systems. MODEC is an owner/operator and EPCI (Engineering, Procurement, Construction and Installation) general contractor of floating production systems including Floating Production Storage and Offloading (FPSO) units, Floating Storage and Offloading (FSO) units, FLNGs, Tension Leg Platforms (TLPs) and Semi-Submersibles.
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Tokyo, May 28, 2024. PDF [107.3 KB] MODEC, Inc. (“MODEC”) announced today the plan to open a new office in Kuala Lumpur, Malaysia, with more than 200 new positions in engineering and other corporate support functions to fill by early 2025. The new office will be a subsidiary of Offshore Frontier Solutions Pte. Ltd., a MODEC Group company in ...
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2023310 · Eight Years After Deadly Explosion Offshore Brazil, BW Offshore Finds Buyer for Laid-up FPSO. (OE) Oslo-listed FPSO provider BW Offshore has agreed to sell the laid-up FPSO BW Opportunity to an undisclosed third party for $125 million. BW Offshore said Friday that the sale was subject to conditions precedent and is expected to be …
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2024424 · United Kingdom FPSO Market Strategic Insight Survey With Key Companies - Bumi Armada, BW Offshore, MODEC, CNOOC
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202431 · BW Offshore sees a shift away from the lease and operate model due to the high cost and risk to the FPSO contractor ... Modec, Yinson and BW Offshore. ... The FPSO market is a key strategic area ...
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20221110 · FPSO leasing firm BW Offshore said Thursday that Shell and its partners have extended the limited notice to proceed (LNTP) period with BW Offshore and Saipem in relation to the supply of an FPSO for the Gato do Mato oil and gas field offshore Brazil. The extension is valid until February 15, 2023. Upon completion of the extension period, BW ...
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The FPSO Cidade de Caraguatatuba MV27 is deployed for operation in the Lapa (formerly Carioca) oil field in the “pre-salt” region of the Santos Basin off the coast of Brazil. The FPSO’s new-build hull was constructed by Mitsui Engineering & Shipbuilding Co., Ltd. (currently renamed as Mitsui E&S Co., Ltd.) in Chiba, Japan while its ...
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26 May 2022. Awarded limited notice to proceed for Shell’s Gato do Mato development in Brazil. BW Offshore is pleased to announce the award of a limited notice to proceed (LNTP) by Shell Brasil Petróleo Ltda (Shell) and its partners for early-stage engineering and supplier reservations for the supply of an FPSO for the Gato do Mato oil and ...
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Major FPSO contractors are SBM, Modec, and BW Offshore. These three companies control 22% of the FPSO inventory. Ownership of FPSOs as of November 2020 Growth in FPSO Inventory The number of FPSOs in operation or available for deployment has grown by 26% over the past 10 years – from 159 units at end-2011 to 200 units at …
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2017314 · Therefore, the current FPSO utilization is 87%, and there are almost as many FPSOs laid-up as on order. Almost half of these idle FPSOs are owned by larger leasing contractors with three or more units. The top seven FPSO leasing contractors (BW Offshore, SBM, Modec, Teekay, Bumi Armada, Bluewater, and Yinson) all have at least …
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