English 
Spanish 
3 min read
Modec was hired by Equinor, which aims to build an FPSO that will be installed in the Campos Basin
MODEC, a Japanese FPSO supplier, has entered into a purchase and sale agreement (SPA) with Equinor Brasil Energia Ltd to supply a floating production, storage and offloading (FPSO) vessel destined for the cluster formed by the Pão de Açúcar, Seat and Gávea fields, in the Campos Basin offshore Brazil. This project recently sanctioned by Equinor Norway has recoverable natural gas and condensate oil reserves above one billion barrels of oil equivalent, with investments of around US$ 9 billion.
Complex FPSO in the Campos Basin focused on reducing GHG emissions
The FPSO that will be supplied by MODEC to Equinor in the offshore Campos Basin project is described as “one of the most complex installations in MODEC’s history”. It will have the capacity to handle large volumes of exported gas, with a primary focus on reducing greenhouse gas (GHG) emissions in the Campos Basin. The project is expected to start operations in 2028 in the Campos Basin, with the selected concept based on an FPSO capable of processing gas and condensed oil and specifying them for sale without the need for further processing onshore.
The BM-C-33 block, where the MODEC and Equinor FPSO will operate, in the Campos Basin, was discovered by Repsol Sinopec in 2010, and Equinor took over the operation in 2016. Equinor's stake in this block is 35%, while Repsol Sinopec Brasil and Petrobras hold 35% and 30% stakes, respectively. In March 2021, the partners approved the BM-C-33 development concept, and Equinor made the final investment decision to develop the project in May 2023.
- Petrobras revolutionizes the maritime sector with a billion-dollar investment in sustainable PSVs and the creation of 11 jobs in Brazil
- High alert in India! The most dangerous work of the century begins at Hirakud, the largest earthen dam in the world
- Congressman demands that Carrefour pay millions in compensation to rural producers for damage to the image of meat and promises to shake up the backstage of the food market in Brazil!
- R$20 million in debt and 20 months without salaries: Why did investors give up on buying Avibras?
Reducing GHG emissions and the role of MODEC's FPSO
The FPSO supplied by MODEC to Equinor in the offshore Campos Basin project is designed with the ability to reduce greenhouse gas (GHG) emissions into the atmosphere. The floating facility will be able to handle large volumes of exported gas, which is crucial for the project. With the selection of MODEC to supply this complex vessel, the Japanese company reinforces its leadership position in the global FPSO market. The Campos Basin project also emphasizes the importance of the offshore industry in the energy transition, with a focus on sustainable and efficient operations.
With the contract signed, MODEC and Equinor Brasil Energia are working together to ensure that all project specifications are met. MODEC's FPSO will be crucial to the success of the offshore Campos Basin project, providing the capacity to process large volumes of gas and oil/condensate, while reducing GHG emissions.
