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The Model That Will Be Installed in the Field by Modec Is the M350 Hull. The Hull of the FPSO Will Be Built in China
MODEC announced on Thursday (30) that it has signed a Sales and Purchase Agreement (SPA) with Equinor Brasil Energia Ltda to provide a Floating Storage and Offloading Unit (FPSO) for the Bacalhau field (formerly Carcará) off the coast of Brazil.
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MODEC received the award with a Pre-Front-End Engineering (Pre-FEED) contract for the FPSO in December 2018 and has now been selected as the key contractor to move forward with the project.
This contract is based on a two-step concession: The FEED and pre-investment are starting now, with an option for the execution phase under a turnkey contract configuration that includes engineering, procurement, construction, and installation for all scopes of the FPSO. The option for the contract is subject to Equinor’s planned investment decision for the Bacalhau project at the end of 2020.
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The FPSO vessel will be deployed in the Bacalhau field, Block BM-S-8, located in the enormous “pre-salt” region of the Santos Basin, about 185 kilometers off the coast of the city of Ilhabela / SP, in the state of São Paulo. Equinor’s field partners are ExxonMobil (40%) and Petrogal Brasil (20%)
MODEC will be responsible for the design and construction of the FPSO, including topside processing equipment as well as marine and hull systems. The FPSO vessel will be permanently anchored at a water depth of approximately 2,050 meters by a spread mooring system to be provided by MODEC’s group company, SOFEC, Inc. First oil production is planned for the period of 2023-2024.
The FPSO will be the largest FPSO ever delivered in Brazil. It will have a large design throughput of up to 220,000 barrels of oil per day, produce and inject up to 530 million standard cubic feet of associated gas per day, and inject up to 200,000 barrels of seawater per day. Its minimum crude oil storage capacity will be 2,000,000 barrels.
The FPSO will be the second application of MODEC’s “M350 Hull,” a next-generation hull for next-generation FPSOs, a complete double-hull design developed to accommodate larger topsides and greater storage capacity than conventional VLCC tankers, with a longer service life design. The hull will be built by Dalian Shipbuilding Industry Co., Ltd. (DSIC) in Dalian, China.
“We are extremely honored and proud to have been selected to provide a world-class FPSO for the Bacalhau project, which is Equinor’s first pre-salt project in Brazil,” commented Yuji Kozai, president and CEO of MODEC. “We believe this is the beginning of a long-term relationship with our clients Equinor, ExxonMobil, and Petrogal Brasil, and an opportunity that strengthens MODEC’s position as a leading FPSO service provider for the sector. We are committed to delivering this great project by closely cooperating with our clients in order to contribute to the advancement of the energy sector in Brazil.”
The FPSO will be MODEC’s 17th FPSO/FSO vessel in Brazil and the 9th FPSO for MODEC in the pre-salt region, as well as the first contract for MODEC with Equinor.
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