— MODEC, Inc. ("MODEC") announced today that its affiliate, Gas Opportunity MV20 B.V. ("MV20"), has signed a contract with Enauta Energia S.A. ("Enauta"), a wholly owned subsidiary of Enauta Participações S.A., to sell FPSO Cidade de Santos MV20 (the "FPSO"), operated in the Uruguá and Tambaú fields (the "Fields") in the Santos Basin, …

BW Offshore is pleased to announce that it has signed a contract with Santos Ltd. for the supply of a FPSO for the Barossa gas field 300 kilometres offshore Darwin in Australia. The contract is subject to Final Investment Decision (FID) by Santos and its partners. The Lease and Operate contract has a firm period of 15 years, with 10 years of ...

MODEC, Inc. has formulated a Mid-term business plan covering the three-year period through fiscal year 2026. The Mid-term business plan 2024-2026 is based on the recently renewed Vision, Mission and Core …

 — The FPSO will be deployed approximately 100 kilometers south of Dakar as part of Senegal's first offshore oil development. The FPSO was previously a VLCC and was converted by MODEC into a fit for purpose FPSO suitable for use in the Sangomar Field in accordance with agreed specifications under an FPSO purchase contract entered into …

 — As the offshore oil and gas market recovers, operators and producers are increasingly turning to floating production storage and offloading (FPSO) vessels to develop and monetize their fields. Since Offshore's 2020 Worldwide Survey of FPSOs survey and poster, the industry has ordered seven FPSOs – one in 2020 and six so far in 2021. …

MODEC was awarded a Front End Engineering Design (FEED) contract of the FPSO in February 2019 and the FPSO purchase contract following the Final Investment Decision (FID) in January 2020. The FPSO vessel is permanently moored at a water depth of approximately 780 m by an External Turret mooring system supplied by SOFEC, Inc., a …

 — This trend will continue and will be closely followed by West African developments, leading to more operator owned FPSOs until activity subsidies and …

 — MODEC, Inc. announced today that Tullow Ghana Limited, a wholly owned subsidiary of Tullow Oil plc., has awarded TEN Ghana MV25 B.V., a subsidiary of MODEC, contracts for the supply, charter and lease, operations and maintenance of a Floating Production, Storage and Offloading (FPSO) vessel for the Tweneboa, Enyenra, and …

FPSO Cidade de Caraguatatuba MV27. 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 …

 — MODEC, Inc. announced today that as part of the lease financing for the Jubilee FPSO, under the Representations and Warranties provisions, MODEC has disclosed to the other potential equity partners in Jubilee Ghana MV21 B.V., a special purpose company incorporated in the Netherlands and the lending banks all of the …

 — BW Offshore sees a shift away from the lease and operate model due to the high cost and risk to the FPSO contractor ... The FPSO market is a key strategic area for …

 — [MODEC's FPSO MIAMTE MV34 achieves First Oil in Offshore Mexico]. 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, …

 — After several short-term charter extensions, the Norwegian FPSO leasing firm BW Offshore has closed the transaction for the sale of the Abo FPSO.. BW Offshore will sell the FPSO to STAC Marine …

 — The BW Opal hull is one of the largest FPSO hulls ever built, with an overall length of 358 metres, a width of 64 metres. The hull has been built over the last 22 months, from first steel cut which was done on 24 November 2021. The hull is built in 6 giga blocks which have been joined in the floating dock.

 — Market research provider and consultancy Westwood Global Energy Group has estimated that 30 floating, production, supply, and offloading (FPSO) vessels will …

 — A leased FPSO is a floating platform which is rented to an operator by a third-party for use on a specific field. An owned FPSO is a floating platform which is paid for …

 — The Barossa FPSO is MODEC's largest size of "Gas FPSO" to date, which will be able to export over 600 million standard cubic feet of gas per day as well as store up to 650,000 barrels of condensate for export. It has been designed to withstand a 100-year cyclone event at a water depth of 260 meters and located some 300 kilometers off north …

 — MODEC, Inc. ("MODEC") is pleased to announce that it has signed a Sales and Purchase Agreement (SPA) with Equinor Brasil Energia Ltd, a subsidiary of Equinor ASA ("Equinor"), to supply a Floating Production, Storage and Offloading (FPSO) vessel to produce the field cluster of Pao de Acucar, Seat & Gavea in the BM-C-33 block of the …

 — [World's First Approval from Classification Society for a Drone-based FPSO Hull Thickness Measurement]. 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 …

FPSO. 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.

 — Buying power for a large portion of FPSO contracts will be centered in Brazil and Guyana/Suriname. These two areas are expected to account for more than 60% of the FPSO contracts awarded between 2021 and 2025. The remaining 40% of FPSO contracts will be with customers in SEA/China, Africa, No Europe, Australia and other areas.

FPSO Market Analysis. The FPSO Market size is estimated at USD 12.04 billion in 2024, and is expected to reach USD 18.11 billion by 2029, growing at a CAGR of 8.5% during …

An FPSO is a floating production system that receives fluids (crude oil, water and a host of other things) from a subsea reservoir through risers, which then separate fluids into …

 — Offshore 's 2021 Worldwide Survey of FPSOs poster, contained in this issue, shows a total fleet size of 212 units, with 162 installed, 27 on order, and 23 available. …

The FPSO is operated in the Marlim Leste oil field which lies within the Campos Basin, offshore Brazil since February 2009. MODEC carried out the engineering, procurement, construction, installation and commissioning of the FPSO which is capable of processing 100,000 barrels of crude oil per day, 124 million standard cubic feet of gas per day and …

 — MODEC, Inc. ("MODEC") informed that on February 18, 2020, the FPSO Cidade do Rio de Janeiro MV14 was towed-out and left the Brazilian territorial sea towards its final destination abroad. The FPSO will be recycled and the process will follow the safety and environment recommendations of the International Hong Kong Convention, which is …

 — The global FPSO market size is expected to gain momentum by reaching USD 17.30 billion by 2027. This is attributable to the increasing demand for energy worldwide that is anticipated ... SBM Offshore announced the extension of its contract with Shell that involves leasing of the company's Espirito Santo FPSO in Brazil. The another …

The OSX-3 FPSO is utilized within block BM-C-39 of the Campos Basin, offshore Brazil, on the Waikiki Pero Inga fields. The FPSO is moored in approximately 110 meters water depth, have a storage capacity of 1.3 …

 — The Final Investment Decision (FID) was confirmed by Santos and its partners on 30 March 2021 (updated 30 March 2021). The project capex of around USD 2 billion will be financed by banks and equity partners, in combination with BW Offshore, as well as approximately USD 1 billion in total advance lease payments during the …

Financial Results. 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.