April 2009 Vol. 236 No. 4

In The News

MODEC FPSO Achieves First Oil Off Brazil

Cidade de Niteroi MV18, a MODEC owned and operated FPSO, leased to Petrobras, recently achieved first oil. The spread-moored FPSO is located on the Marlin East Field in Campos Basin in approximately 1,400 meters of water.

The Cidade de Niteroi MV18 is capable of processing 100,000 bopd, has a gas compression capacity of 124 MMcf/d and oil storage capacity of 1.6 million barrels.

MODEC officials say the FPSO is working for Petrobras under a nine-year lease agreement, which has six one-year options.

“This is the fourth vessel we have delivered to Brazil and the fourth vessel we will operate,” says Kenji Yamada, president and CEO of MODEC, Inc. “We have two additional FPSOs under construction for Petrobras and partners: the FPSO Cidade de Santos MV20 which will be deployed to the Urugua field and will also gather production from the Tambau field; and the FPSO Cidade de Angra dos Reis MV22 which is the pilot FPSO for the pre-salt Tupi area in the Santos Basin.”

MODEC has almost nine years of operational experience in Brazil, has crewed four units and has two operational offices.

“We have invested in Brazil and the results are very rewarding. We are excited about achieving first oil on FPSO Cidade de Niteroi MV18 and look forward to bringing the two other units into operation for Petrobras,” Yamada said.