Suspension of the participation of the multinational Modec in the bid for Petrobras will be for 13 months from March 31, 2021

The month of March did not end very well for the oil giant Modec. The Japanese company received a notification from Petrobras that its eligibility to participate in a new bid by the state-owned company was suspended for 13 months from March 31, 2021. Looking for a job? Siemens calls for job openings and internships at its factories in SP, BA and RN, candidates with and without experience

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According to Petrobras' notification, the main basis for this administrative sanction is the damages to the state-owned company, presumably caused by the performance of three Floating Production Storage and Offloading (FPSO) platforms under charter services that MODEC has provided in the past and / or is currently providing to the Brazilian oil company.

These FPSOs are FPSO Cidade do Rio de Janeiro MV14, whose charter contract expired in 2019, and two FPSOs currently chartered to Petrobras, namely FPSO Cidade de Niterói MV18 and FPSO Cidade de Santos MV20, according to the notification.

Administrative sanction does not impact the execution of the current contracts in force between MODEC and Petrobras

There is no expectation of new developments or implications, including on MODEC's finances, since this administrative sanction does not impact the execution of the current contracts in force between MODEC and Petrobras.

“MODEC remains committed to improving its practices in order to eliminate any problems in its activities under the contracts in force,” said the Japanese company in a statement.

“MODEC continues to see Brazil as its main and most promising market, and reaffirms its commitment to the oil and gas sector, with the excellence that has always been linked to its name over more than 15 years in Brazil, with its employees, customers and suppliers”, concludes the Japanese

FPSO chartered by Petrobras and operated by Modec left China for the Brasfels shipyard. Around 800 jobs were guaranteed by the Japanese company in 2020 in Brazil

Named “FPSO CARIOCA”, the MV30 it was a VLCC vessel from the Belgian Euronave that was sold and converted, optimizing costs and saving time in the construction of the FPSO. The value of the purchase of the vessel was USD 45 million in 2017. From bow to stern, the unit measures 332 meters.