First FPSO to utilise MODEC’s M350 hull on track for start-up in 2025

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The floating production storage and offloading (FPSO) vessel Bacalhau, a collaboration between Equinor ASA and MODEC, Inc., embarked from the Dalian Shipbuilding Industry Co. (DSIC) yard on June 12, en route to Singapore for modules integration and commissioning. 

Bacalhau represents the debut of MODEC’s M350 Hull – a next-generation FPSO hull design featuring a full double hull to facilitate larger topsides and increased storage capacity compared to traditional very large crude carriers (VLCC). It also provides an extended design service life. First oil from Bacalhau is projected for 2025.

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This venture marks MODEC’s 17th FPSO/FSO vessel delivery in Brazil and their first project with Equinor. 

Equinor Brasil Energia Ltda, an Equinor subsidiary, made its final investment decision (FID) for Bacalhau on June 1, 2021. This followed an FPSO Sales and Purchase Agreement (SPA) signed by Equinor and MODEC in January 2020, which solidified MODEC’s role for the engineering, procurement, construction and installation (EPCI) of the FPSO. Equinor plans to operate the FPSO until the license period concludes in 2053, with MODEC providing operations and maintenance service for the first year.

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Positioned 185 kilometres off the coast of Ilhabela/SP in the Santos Basin’s “pre-salt” region, Bacalhau will be one of the largest FPSOs ever delivered to Brazil. With capabilities to produce up to 220,000 barrels of crude oil per day and a minimum storage capacity of two million barrels, it will also utilise a combined cycle power generation system to help reduce CO2 emissions.

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