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Modec News

 

Woodside Wins Senegal Case

Feb 14, 2020

Australian oil and gas company Far has lost a case against its compatriot Woodside in which it challenged Woodside's acquisition of ConocoPhillips' stake in the SNE field off Senegal in 2016, claiming pre-emption rights. The field is now known as Sangomar.Woodside in 2016 agreed to acquire all ConocoPhillips' assets offshore Senegal including the SNE oil discovery, for $430 million. However, Far, as Conoco's partner in the Senegal offshore blocks disputed the deal…

Subsea 7 in 'Large' Barossa SURF Contract

Mar 03, 2020

Subsea 7 has won what it describes as 'a large contract' by ConocoPhillips in Australia. Subsea 7 defines a large contract as between $300 million and $500 million.The contract is for the supply of the SURF scope for the Barossa Project. The…

Aibel Clinches Bacalhau FPSO Award

Feb 05, 2020

Japanese FPSO specialist MODEC has awarded Aibel a Letter of Intent for an engineering services front end engineering and design (FEED) in relation to the recently awarded Bacalhau FPSO contract by Equinor.Bacalhau FPSO will be the largest ever…

Japanese Quartet Moves Ahead with Marlim FPSO

Jan 31, 2020

Japanese companies MODEC, Mitsui, MOL, and Marubeni will jointly invest in the Petrobras-bound Marlim FPSO.MODEC in October 2019 received a letter of intent from Petrobras for the supply, charter, and operations of the Marlim-1 FPSO.Now Mitsui…

Floater Sector Active Despite Market Volatility

Jul 08, 2019

Activity in the floating production sector has not been slowed by the recent volatility seen across global oil markets, according to a recent report by World Energy Reports (WER).Brent oil, which had reached as high as the mid $70 range earlier this year…

MOL, Mitsui Join in Modec FPSO Project

Apr 15, 2019

Mitsui O.S.K. Lines and Mitsui & Co have participated in a long-term charter business  operated by MODEC for the purpose of providing a floating production, storage, and offloading system (FPSO) for use in the Area 1 block offshore Mexico and…

Global FPSO Market to Hit USD30Bln by 2025.

Feb 27, 2019

The floating storage and offloading (FSO) vessel market is anticipated to surpass USD 30 billion by 2025, said a study.The FPSO market is set to witness vigorous growth on account of shifting trends toward offshore exploration & production driven by depleting onshore oil & gas reserves…

Woodside Selects MODEC for SNE Field

Feb 25, 2019

Australian petroleum exploration and production company Woodside Energy  has awarded MODEC International the front-end engineering design (FEED) contract for the SNE Field Development Phase 1 floating production storage and offloading (FPSO) facility…

Offshore Mooring to Reach $1.1B by 2021

Feb 11, 2019

The global offshore mooring system market stood at US$0.93 bn in 2014 and is predicted to reach US$1.1 bn by 2021.It is predicted to expand at a CAGR of 3.60% from 2015 to 2021, revealed a new Transparency Market Research report.According to the report…

Petrobel Contracts Shelf Rig

Jan 30, 2019

UAE-headquartered offshore drilling contractor Shelf Drilling has received a contract award for one of its jack-up rigs with Belayim Petroleum Company (Petrobel) for operations in the Gulf of Suez, offshore Egypt.According to a press release from the shallow water offshore drilling contractor…

Oil Spill from Espadarte Field FPSO

Jan 08, 2019

Brazilian state-run oil firm Petróleo Brasileiro S.A. announced there was an oil spill on January 2 from its chartered floating production storage and offloading unit (FPSO) Cidade de Rio de Janeiro, in the Espadarte field offshore Brazil.Petrobras said approximately 4…

Aker Solutions to Supply Subsea Production System for Mero 1

Oct 05, 2018

Aker Solutions said it has secured an order from Petrobras to provide a subsea production system and related services for the Mero 1 project, the first full production project within the major Mero field development, one of the largest oil discoveries in Brazil's pre-salt area…

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Jadestone, Inpex in Arbitration over Offshore Block in Vietnam

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Global Offshore Rig Count in June Falls to 208. Africa Suffers the Biggest Loss

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MAN Compressors for Yinson's Brazil-bound FPSO

MAN Compressors for Yinson's Brazil-bound FPSO

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