MODEC has signed a Sales and Purchase Agreement (SPA) with Equinor Brasil Energia Ltd, a subsidiary of Equinor ASA, to provide a fully electrified Floating Production, Storage and Offloading (FPSO) vessel for the Pao de Acucar, Seat & Gavea field cluster in the Campos Basin offshore Brazil. The FPSO is one of the most complex facilities in MODEC’s history and is designed to reduce greenhouse gas (GHG) emissions significantly.
The SPA includes a two-phase lump sum turnkey contract that covers Front End Engineering Design (FEED) and Engineering, Procurement, Construction, and Installation (EPCI) for the entire FPSO. MODEC has been awarded phase 2 of the contract for EPCI of the FPSO, following Equinor and partners’ announcement of the Final Investment Decision (FID) after completing the FEED. MODEC will also provide operations and maintenance services to Equinor for the first year of the FPSO’s production.
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The FPSO will be deployed in the BM-C-33 block of the Campos Basin, located in the “pre-salt” region, approximately 200 kilometres off the coast of Rio de Janeiro, and permanently moored at a water depth of approximately 2,900 metres. MODEC group company, SOFEC, Inc., will supply the spread mooring system. The FPSO delivery is expected in 2027.
The FPSO will produce approximately 125,000 barrels of crude oil per day and export around 565 million standard cubic feet of associated gas per day, with a minimum storage capacity of 2,000,000 barrels of crude oil. It will apply MODEC’s new build, full double hull design, developed to accommodate larger topsides and storage capacity than conventional Very Large Crude Carrier (VLCC) tankers, with a longer design service life.
In addition, the FPSO will be the second fully electrified FPSO equipped with Combined Cycle System for Power Generation, which significantly reduces carbon emissions compared with conventional Gas Turbine driven systems. This design reduces GHG emissions and marks a step towards sustainable energy production.
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“We are extremely honored and proud to be selected to provide an FPSO for the BM-C-33 project,” said Takeshi Kanamori, President and CEO of MODEC. “We are equally proud of the confidence Equinor has shown in MODEC. We believe this award represents a strong relationship of trust between us built upon the ongoing Bacalhau FPSO project, as well as our robust track record in the pre-salt region. We look forward to cooperating closely with Equinor and partners to make this project a success.”
This FPSO will be MODEC’s 18th FPSO/FSO vessel and the 10th FPSO in the pre-salt region delivered by MODEC in Brazil.
