Schlumberger Signs Two Contracts With Modec

Written by Renato Oliveira

Published on 23/04/2019 at 11:37

Updated on 23/04/2019 at 11:50

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Contracts Aim to Support Modec’s FPSOs in the Supply of Equipment to Vessels Chartered by Petrobras in the Pre-salt

Another major partnership has been finalized at the beginning of this year, as Schlumberger published in its most recent financial report, on Thursday (4/18), the signing of two contracts with the Japanese company Modec.
The contracts are for the supply of oil separation and treatment equipment and CO2 processing for use in FPSOs that Modec will maintain under contract with Petrobras.

Modec is currently building two FPSOs for Petrobras, the FPSO Guanabara, which will operate in the Mero 1 field in the Libra area, and the FPSO Carioca, which will operate in Sépia, in the onerous assignment, both in the Pre-salt of the Santos Basin.
The outlook is even better for Modec, as the company is still competing in Petrobras’ tenders to build the FPSO of Búzios V and is participating in the tender for two more FPSOs for the Marlim field.

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Schlumberger’s Perspective

The company has an expectation of growth in investments in Exploration and Production (E&P) of around 7% to 8% in 2019, largely due to the increasing number of rigs operating in the Brazilian offshore and the projects that are yet to come.

Schlumberger’s optimism is due not only to the increase in demand for offshore equipment but also to the production cuts that OPEC and Russia have been making and the slowdown in shale production in North America.

Despite registering a 4% decline this quarter compared to the last quarter of 2018, the company saw a 1% increase in the annual comparison, recording revenue of US$ 7.9 billion.
In total, the company’s profit fell 21% compared to the last quarter of last year and 19% compared to the same period in 2018, but nonetheless, profit was US$ 421 million in the first three months of the year.

Following the same trend of contract signings with Petrobras, BW Offshore signed a contract with Petrobras for a one-year extension for the leasing and operation of the BW Cidade de São Vicente. Click here to learn more!

Schlumberger Signs Two Contracts With Modec

Contracts Aim to Support Modec’s FPSOs in the Supply of Equipment to Vessels Chartered by Petrobras in the Pre-salt

Schlumberger’s Perspective

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Schlumberger Signs Two Contracts With Modec

Contracts Aim to Support Modec’s FPSOs in the Supply of Equipment to Vessels Chartered by Petrobras in the Pre-salt

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