Killajoules

MODEC Secures Award for OSX-3 FPSO
MODEC, Inc. (MODEC) announced today that OSX 3 Leasing B.V. has signed an EPCI contract for the supply of the OSX-3 FPSO, a Floating, Production, Storage, and Offloading (FPSO) unit to be utilized within block BM-C-39 of the Campos Basin, offshore Brazil, on the Waikiki Pero Inga fields. OSX 3 Leasing B.V. is a subsidiary of OSX Brasil S.A., an EBX Group Company. The Letter of Intent was issued to MODEC on June 1, 2011.

Participation in FPSO chartering for Guara Field in Petrobras' pre-salt area
MODEC, Inc. (MODEC, head office: Chiyoda-ku, Tokyo; president: Toshiro Miyazaki), Mitsui & Co., Ltd. (Mitsui, head office: Chiyoda-ku, Tokyo; president: Masami Iijima) and Mitsubishi Corporation (Mitsubishi, head office: Chiyoda-ku, Tokyo; president: Ken Kobayashi) have agreed to invest in building and chartering a floating production, storage, and offloading system (FPSO) to GUARA B.V, a Dutch company belonging to BM-S-9 consortium members. The FPSO will be delivered offshore Brazil and used to develop the giant pre-salt region of the Santos Basin, in the BM-S-9 block (Guara Area) under concession to the consortium comprised of the following three companies: Petróleo Brasileiro S.A – Petrobras (45%), BG E&P Brasil Ltda – BG (30%), and Repsol Sinopec Brasil S.A – Repsol Sinopec (25%).