Following its debut at the Guyana Energy Conference and Supply Chain Expo in 2024, MODEC has returned to this year’s event with a stronger resolve to build lasting partnerships in the local energy sector. The company’s Country Manager, Rafael Fumis, took the opportunity on Tuesday to reaffirm the company’s long-term commitment to Guyana while highlighting its ongoing investments in local capacity development.
Japan’s MODEC has delivered a structure that will form part of a floating production storage and offloading (FPSO) unit to be deployed to a project offshore Guyana operated by ExxonMobil, a U.S.-headquartered oil and gas giant.
According to the EIA, the development plan calls for drilling 14 to 30 production and water-injection wells; installing and operating subsea umbilical, riser, and flowline (SURF) equipment that will connect the FPSO to the wells; using an FPSO to process, store, and offload the recovered oil; and installing a 13-km gas export pipeline from the FPSO to a tie-in on the Gas to Energy pipeline. The EIA said subsea components are expected to be installed in 2028, with FPSO installation and commissioning expected the same year.
The contract, awarded by ExxonMobil’s Guyana arm, is a limited notice to proceed pending necessary government and regulatory approval. Phase one encompasses front-end engineering and design, while phase two covers engineering, procurement, construction, and installation.
MODEC Inc. has secured a contract from ExxonMobil Guyana Ltd. to develop a Floating Production, Storage, and Offloading (FPSO) vessel for the Hammerhead project. MODEC said in a media release the contract is a Limited Notice to Proceed (LNTP) hinging on government and regulatory approvals.
The contract, issued as a Limited Notice to Proceed (LNTP), allows MODEC to begin early-phase work on the FPSO while awaiting regulatory and government approvals. Phase one of the project will involve front-end engineering and design (FEED), followed by engineering, procurement, construction, and installation (EPCI) in phase two—pending final project sanction by ExxonMobil Guyana and its Stabroek Block co-venturers.
The Hammerhead FPSO will have a production capacity of 150,000 barrels of oil per day, along with processing facilities for associated gas and water. It will be moored in approximately 1,025 meters of water using a SOFEC spread mooring system.
The LNTP enables MODEC to begin FPSO design activities to support an early project startup target of 2029, should approvals move forward.
Japanese company Modec has confirmed the award of a contract to supply and operate a large newbuild floating production, storage and offloading vessel for Shell’s latest oil project in Brazil.
MODEC, INC. (the “Company”) announces that it has received a notice of compliance with the continued listing criteria (distribution standard) from the Tokyo Stock Exchange (“TSE”) and confirms that, as of December 31, 2024, it has satisfied the compliance requirements for the continued listing on the TSE’s Prime Market.
MODEC, Inc. (“MODEC”) is pleased to announce that FPSO Bacalhau has received the Approval in Principle (AiP) for Abate Notation from classification society DNV, making it the first new built FPSO in the world to achieve this prestigious recognition.
Brazilian oil and gas company Enauta has terminated the contract to acquire the floating production, storage, and offloading (FPSO) unit Cidade de Santos from MODEC, announced in relation with the acquisition of Uruguá and Tambaú fields from Petrobras.