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Japan’s MODEC Granted Norway’s Aibel a Letter of Intent (LOI) in Connection with MODEC’s Provision of a Newly Built FPSO to Equinor for the Bacalhau Field in Brazil.
MODEC recently signed a purchase and sale agreement with Equinor to provide a floating production storage and offloading vessel (FPSO) for the Bacalhau field (formerly Carcará) offshore Brazil.
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According to MODEC, the FPSO will be the largest FPSO ever delivered in Brazil. It will have a large design surface to produce 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.
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Announcing its letter of intent with MODEC on Wednesday, Aibel stated that it covers a phase of the FEED for management and basic engineering services, with an option for an EPC contract, including detailed engineering, bulk purchasing, and construction of approx. 20,000 tons modules for the giant FPSO vessel.
“With this major project, we look forward to further developing the good and lasting relationships we maintain with MODEC and the end customer Equinor, while also proving that we are worthy of the trust we have,” said Aibel’s President and CEO, Mads Andersen.
The project will be managed from Aibel’s office in Singapore, where Aibel and MODEC will establish an integrated project team. Aibel’s engineering office in Thailand will assist with detailed engineering. The construction of the 20,000-ton modules will take place at Aibel’s recently expanded and upgraded yard facilities in Laem Chabang, Thailand.
As a result of the contract, Aibel will now expand its engineering organization in Singapore.
Nils Arne Hatleskog, Vice President of Field Development and Offshore Wind at Aibel, said: “Over the years, our office in Singapore has developed a solid expertise in the FPSO field, from the initial concepts and studies to final execution, and thus has become a center of our strategic focus on the international FPSO market. We see great potential in this market, and with this contract and a significant office expansion, we will position ourselves favorably for future contracts.”
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