Killajoules

MODEC Awarded Contract to Provide FSO for Maersk Oil’s Culzean Field
MODEC, Inc. (MODEC) is pleased to announce it has signed a contract with Maersk Oil North Sea UK Limited (Maersk Oil UK) to supply a Floating Storage and Offloading (FSO) vessel for the Culzean development project in the North Sea.

FPSO Cidade de Itaguaí arrives in Lula field
The floating production, storage and offloading unit (FPSO) Cidade de Itaguaí is now anchored in the Iracema Norte area of Lula field, in the Pre-Salt layer of Santos Basin, off the coast of Rio de Janeiro. The platform-ship is able to produce 150,000 barrels of oil and compress 8 million cubic meters of natural gas per day. Oil production in the field is scheduled to begin in the third quarter of this year.

MODEC, Mitsui, MOL and Marubeni to Proceed with the Deepwater FPSO Charter Project for Tartaruga Verde & Tartaruga Mestiça Oil F
MODEC, Inc. (“MODEC,” head office: Chuo-ku, Tokyo; president: Toshiro Miyazaki), Mitsui & Co., Ltd. (“Mitsui,” head office: Chiyoda-ku, Tokyo; president: Tatsuo Yasunaga), Mitsui O.S.K. Lines, Ltd. (“MOL,” head office: Minato-ku, Tokyo; president: Koichi Muto) and Marubeni Corporation (“Marubeni,” head office: Chiyoda-ku, Tokyo; president: Fumiya Kokubu) have agreed that Mitsui, MOL and Marubeni will invest in a long-term charter business (“the Project”) currently promoted by MODEC for the purpose of providing a floating production, storage, and offloading system (“the FPSO”) for use in the Tartaruga Verde and Tartaruga Mestiça oil fields off the coast of Brazil. The above four companies (“the Companies”) have entered into related agreements today.

MODEC's FPSO Cidade de Mangaratiba MV24 Achieves First Oil; Charter Begins
MODEC, Inc. (“MODEC”) announced today that the FPSO Cidade de Mangaratiba MV24, located in the BM‐S‐11 block (Iracema Sul area) in the giant "pre‐salt" region of the Santos Basin offshore Brazil, has achieved First Oil production in the middle of October this year. The FPSO is chartered by Tupi B.V., a subsidiary of Petróleo Brasileiro S.A. (“Petrobras”), under a 20 year lease and operation contract.

The FPSO is moored at Lula field, Iracema Sul area with 2,200 meters of water depth. The FPSO is capable of processing 150,000 barrels of oil per day and 280 MM standard cubic feet of gas per day, and has storage capacity of about 1,600,000 barrels of crude oil.

This is the 9th FPSO/FSO vessel which MODEC has provided in Brazil, as well as MODEC’s 3rd FPSO in the presalt after the FPSO Cidade de Angra dos Reis MV22 and the FPSO Cidade de São Paulo MV23.

MODEC and Schahin Group awarded Tartaruga Verde / Tartaruga Mestiça FPSO charter contract from Petrobras
MODEC, Inc. (“MODEC”) announced today that MODEC and its Brazilian partner
Schahin Group have been awarded a contract for supply, charter, and operations of a Floating, Production, Storage, and Offloading (FPSO) vessel for the BM‐C‐36 block (Tartaruga Verde and Tartaruga Mestica fields) in the Campos Basin by Petróleo Brasileiro S.A. (“Petrobras”). This announcement is further to the Letter of Intent (LOI) which was issued on November 28, 2014.

The FPSO will be deployed at Tartaruga Verde and Tartaruga Mestiça fields in the BM‐C‐36 block in the Campos Basin in water depth of 765m. The BM‐C‐36 block is 100%‐owned by Petrobras.

MODEC and Schahin Group are responsible for the engineering, procurement, construction, mobilization, installation and operation of the FPSO, including topsides processing equipment as well as hull and marine systems. SOFEC, Inc., a subsidiary of MODEC, will design and supply the spread mooring system.

The FPSO will be capable of processing 150,000 barrels of crude oil per day, 176 million standard cubic feet of gas per day, 200,000 barrels of water injection per day and has storage capacity of about 1,600,000 barrels of crude oil.

The FPSO delivery is scheduled in the 3rd quarter of 2017.

"We are very honored to be awarded the memorable 10th FPSO/FSO vessel from Petrobras, as well as MODEC’s 12th unit in Brazil,” said Toshiro Miyazaki, President and CEO of MODEC. “We are committed to carry out the project along with Schahin Group in order to contribute to the foundation for the development of energy industries in Brazil.”

The Schahin Group has a significant presence in the drilling services market and has been working with Petrobras Group and Consortia in which Petrobras has been participating since 1982. The Schahin Group is pleased to expand into production services via the partnership with MODEC and Petrobras.

FPSO Cidade de Mangaratiba Leaves Port
The Schahin - Modec, which contracted to build and operate the FPSO Cidade De Mangaratiba, began on Saturday (16/8) to the output of the unit BrasFels shipyard in Angra dos Reis. This platform vessel will operate in the area of ​​Iracema Sul, in the Lula field, located in the Pre-Salt Pole of the Santos Basin, off the coast of the State of Rio de Janeiro.

Petronas Reaches Final Investment Decision On Second Floating LNG Project
PETRONAS has reached the Final Investment Decision (FID) for its second floating liquefied natural gas facility (PFLNG 2) project, located off the coast of Sabah in Malaysia.

TOYO Awarded FPSO Topsides Units Projects for Brazil
MODEC and TOYO Offshore Production Systems Pte. Ltd. (MTOPS), a Singapore joint company created by Toyo Engineering Corporation (TOYO, President and CEO Katsumoto Ishibashi) and MODEC, Inc. (MODEC, President & CEO Toshiro Miyazaki), has been awarded a letter of intent from MODEC to install topsides units for a Floating Production, Storage and Offloading (FPSO) system.

MODEC and Schahin Group awarded Carioca FPSO charter contract from Petrobras and partners of Consortium BM-S-9
MODEC, Inc. (“MODEC”) announced today that Petróleo Brasileiro S.A. (“Petrobras”), through its subsidiary Guara B.V., on behalf of Consortium BM-S-9, has awarded Charter Contract for the supply, charter, and operations of a Floating, Production, Storage, and Offloading (FPSO) vessel for the BM-S-9 block (Carioca Area) in the giant "pre-salt" region of the Santos Basin. This announcement is further to the Letter of Intent (LOI) which was issued on 20 September 2013.

MODEC, Inc. Awarded FPSO contracts for TEN Project, Deepwater Tano in Ghana
MODEC, Inc.(“MODEC”) announced today that Tullow Ghana Limited (“Tullow”), 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 Ntomme (“TEN”) fields in the Deepwater Tano contract area in water depth averaging 1,500m. The Deepwater Tano contract area is held by Tullow (47.175%) as Operator, Kosmos Energy (17%), Anadarko Petroleum (17%), Sabre Oil & Gas Holdings Ltd, a wholly owned subsidiary of Petro SA (3.825%), and the Ghana National Petroleum Corporation (15%).