Modec to supply FPSO to Petróleo Brasileiro for Búzios

Japan’s Modec has received a letter of intent from Petróleo Brasileiro for the supply, charter, and operations of an FPSO vessel for the Búzios field.

The firm time charter period is 21 years, and the vessel will be the fifth FPSO deployed at the field.

Modec will be responsible for the engineering, procurement, construction, mobilisation chartering and operations of the FPSO which will be capable of processing 150,000 barrels of crude oil per day, 212 million standard cubic feet of gas per day, 240,000 barrels of water injection per day and will have minimum storage capacity of 1,400,000 barrels of crude oil.

Yuji Kozai, president and CEO of MODEC, commented: “At this time, we are extremely honoured that MODEC has been awarded the contract for the first chartered FPSO to be deployed at Búzios field. This most recent award represents a continued strong relationship of trust between our client Petrobras and us, and it strengthens our leading position as an offshore oil and gas production service provider in Brazil. We are committed to carry out this major project by cooperating closely with our client in order to contribute to the advancement of the energy industry in Brazil.”

First oil production by the FPSO is planned for 2022.

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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