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Modec awarded Bacalhau FPSO contract by Equinor

Japan’s Modec has signed a sale and purchase agreement with Equinor Brasil Energia to supply the FPSO vessel for the Bacalhau field offshore Brazil.

Modec was awarded a pre-FEED contract in 2018 and has now been selected as the turnkey contractor. The FEED and pre-investment are starting now, with an option for the execution phase under a lump sum turnkey contract setup which includes engineering, procurement, construction and installation for the entire FPSO scopes. Option are subject to a final investment decision.

The FPSO vessel will be deployed at the Bacalhau field in the pre-salt region of the Santos Basin off the coast of the state of São Paulo.

Yuji Kozai, president and CEO of MODEC, commented: “We believe this is the start of a long-term relationship with our clients Equinor, ExxonMobil and Petrogal Brasil and an opportunity that strengthens MODEC’s position as the leading FPSO service provider to the industry. We are committed to carry out this major project by cooperating closely with our clients in order to contribute to the advancement of the energy industry in Brazil.”

The FPSO hull will be built by DSIC in China, and first oil production is planned for 2023-2024.

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Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.
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