MODEC awarded Petrobras LOI for FPSO

Japan’s MODEC has been awarded a letter of intent (LOI) by Petrobras for the supply, charter, and operations of a floating production storage and offloading (FPSO) vessel for the Búzios 5 field offshore Brazil.

The firm time charter period of the contract is 21 years.

MODEC will be responsible for the engineering, procurement, construction, mobilisation chartering, and operations of the FPSO, including topsides processing equipment as well as hull and marine systems. SOFEC, a MODEC group company, will design and supply the spread mooring system for the floating unit.

The FPSO will be capable of processing 150,000 barrels of crude oil per day, six million standard cubic metres of gas per day, and 240,000 barrels of water injection per day, and will have a minimum storage capacity of 1.4 million barrels of crude oil. The first oil production by the FPSO is planned for 2022.

The Búzios field is 100 per cent operated by Petrobras and is situated 180 kilometers off the coast of Rio de Janeiro, in the giant “pre-salt” region of the Santos Basin, Brazil, at a water depth of approximately 1,900 meters.