MODEC proceeding with first major Exxon deepwater project in 20 years, off Guyana’s coast

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Mitsui Ocean Development & Engineering Company Inc. (MODEC) said on Monday it will proceed with engineering, procurement, construction and installation (EPCI) of the Uaru Floating Production, Storage, and Offloading (FPSO) vessel following a final investment decision on the project by ExxonMobil Guyana and its co-venturers on April 27.

MODEC announced back in November 2022 that it had signed a contract to perform Front End Engineering and Design for the Uaru FPSO named ‘Errea Wittu’, which means ‘abundance’.

MODEC said it will also provide ExxonMobil with operations and maintenance service of the FPSO for 10 years from first oil, which is targeted for start-up in 2027.

The Uaru FPSO is a significant addition to MODEC’s portfolio and will be the fifth oil production vessel in Guyana. It will combine the development of the Snoek, Mako and Uaru resources in the Stabroek block, deployed approximately 200 kilometers offshore at a water depth of 1690 meters, using a SOFEC Spread Mooring System. MODEC said it will be able to store around 2 million barrels of crude oil.

MODEC seeking Guyanese firms to provide steel, fabrication services 

Offshore Frontier Solution Pte. Ltd. a MODEC Group Company and a joint venture with Toyo Engineering Corporation, launched in August 2022, will be responsible for the engineering, procurement, and construction of the FPSO based on MODEC’s M350TM new-build hull. The FPSO will have a topside designed to produce approximately 250,000 barrels of oil per day and will have associated gas treatment capacity of 540 million cubic feet per day, water injection capacity of 350,000 barrels per day and produced water capacity of 300,000 barrels per day.

Uaru subsurface installations will be “twice as big as Yellowtail” – Hess

“We are extremely honored to be chosen to provide a FPSO for the Uaru project”, commented Takeshi Kanamori, President & CEO of MODEC. “This is our first project with ExxonMobil since we delivered FSO Kome Kribi 1 in Cameroon for Esso Chad in 2003. It is indeed a long-desired new project for MODEC, and we look forward to cooperating closely with the client and its co-venturers to make this project a success.”

The FPSO will be MODEC’s first for use in Guyana and it will be the 18th FPSO/FSO project delivered by the company for use in South America.

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