Home MODEC signs contract to build another FPSO for Petrobras

MODEC signs contract to build another FPSO for Petrobras

12 May 2018 to 20: 25
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This FPSO will be destined for Campo de Libra in a 22-year contract between MODEC and the state-owned company, it remains to be seen where it will be built.

modec signs an agreement for the construction of another FPSO in partnership with Mitsui and Marubeni. Hired on December 17, to build the unit for Petrobras, Modec announced this Friday (11) the closing of agreements with the Mitsui group and with Marubeni to make investments in the Mero 1 project. According to the terms of the partnership, Mitsui and Marubeni will invest in Libra MV31 BV, a Dutch company created by Modec. Thus, FPSO Mero 1, also called Guanabara MV31, with a 20% stake held by Modec; 32,4% from Mitsui & Co.; 20,6% from Mitsui OSK Lines; 17,6% from Marubeni, and 9,3% from Mitsui E & S Holdings.

The vessel will be chartered for 22 years to Petrobras and will have the capacity to process up to 180 barrels of oil per day and 12 million cubic meters of gas per day. The Mero 1 field, northwest of Libra, is located approximately 180 kilometers from Rio de Janeiro. Modec continues to swim in the blue ocean due to the good performance it has been presenting in production, combined with the impossibility of participation of competitors involved in legal proceedings, still without a defined date for signing leniency.

Construction of the Unit

We are just speculating, but based on what MODEC usually does, it should build part of the platform or convert some hull in Asia and the modules and other equipment will be integrated in Brazilian shipyards, probably in Brasfels, in Angra dos Reis, but they are just speculations, of course we always hope for the best, since our naval industry is well saturated and China is taking all the construction contracts that could be coming to the Brazilian sector.

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