MODEC Nets Petrobras Sepia FPSO Deal

MODEC has signed a contract for the supply, charter, and operations of a floating production storage and offloading (FPSO) vessel with Petróleo Brasileiro (Petrobras).

The firm charter period of the contract is 21 years.

The FPSO will be deployed at the Sépia field operated by Petrobras, located in the pre-salt region of the Santos Basin some 250 kilometers off the coast of Rio de Janeiro, Brazil at a water depth approximately 2,200 meters.

MODEC is responsible for the engineering, procurement, construction, mobilization, installation and operation of the FPSO, including topsides processing equipment as well as hull and marine systems. A MODEC group company, SOFEC will design and supply the spread mooring system.

The FPSO will be capable of processing 180,000 barrels of crude oil per day, 212 million standard cubic feet of gas per day, 240,000 barrels of water injection per day and has storage capacity of 1,400,000 barrels of crude oil.

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