Eni has started to evaluate initial proposals from contractor groups vying to provide an FLNG in Mozambique’s deepwater Rovuma basin. Daewoo has teamed up with KBR, Samsung has joined forces with Technip and JGC, Hyundai has thrown its lot in with Chiyoda and Saipem. CB&I was rumoured to have pulled out of a Japanese consortium of IHI/MODEC/Toyo and linked up with China’s Hudong.
Modec is expected to beat Bumi Armada and Yinson to land a major order from Italy’s Eni to for its Sankofa-Gye Nyame FPSO off Ghana, which is forecast to produce 160 MMscfd of gas and 50,000 bpd of crude at peak. The operator aims to fast-track Sankofa-Gye Nyame towards producing first oil in late 2016, with gas flowing one year later. It would mark the third consecutive FPSO contract MODEC secures and its 100% dominance in the Ghana’s floater market.
SBM Offshore CEO claims the number of tenders in-house at the “highest they have seen” and under the arrangements, SBM will receive an increased lease rate. SBM’s rival Modec, posted a 1Q2014 revenue 50% up yoy to JPY84.3bn ($828m) and net income 45% up to JPY1.22bn ($12m).
MODEC has raised JPY19.8bn ($193.8m) through public offering and Third-party Allotment. The funds are allocated for firstly construction of FPSO MV24, scheduled to be delivered in 3Q2014, then in Jan 2015 for the chartering of MV24, Jan 2016 chartering of MV26, both in Santos pre-salt fields off Brazil.
Sofec, the turret-mooring unit of Modec, has delivered five offshore buoys to Mexico’s state-led Pemex and anticipates many more projects after the nation voted last year to end its 75-year old oil monopoly.
Aibel Thailand cut first steel for topside modules for the T.E.N. FPSO project for MODEC at subcontractor Deeline’s fabrication shop in Rayong. MODEC’s Jeff Knox attended the ceremony on 14 Mar. Aibel Thailand is delivering seven modules with a weight of 9,400 tons to the FPSO. Aibel has also successfully delivered modules in the projects Tupi, Guara and OSX3. Upon completion, the modules will be transported from Aibel’s yard in Laem Chabang to Singapore for integration.
GE is to supply four LM2500+G4 aeroderivative gas turbine generators to MODEC for FPSO Cidade de Caraguatatuba MV-27 which will operate in 2,240m of water serving presalt fields offshore Brazil. The four turbines will run on non-commercial grade “field gas” produced at the FPSO.
MODEC, Technip, Kvaerner, FloaTec and Saipem are said to have expressed interest in participating in the FEED bid for CNOOC two tension-leg platforms (TLP) for its Liuhua 11-1 and Liuhua 16-2 fields in the South China Sea.
Petrobras will accept bids on 26 June from Modec, Teekay, BW and Bumi Armada for a 50,000bpd FPSO to run extended well tests at the giant Libra pre-salt area. Brazilian contractors are asked to team up with them. The Libra FPSO will be contracted for eight years, and is earmarked for delivery in 2016. Another FPSO for the Tartaruga Verde field will be chartered for a 20-year period, and is due to begin output in 2017.
Keppel Nantong Shipyard has been awarded a contract from Sofec for the fabrication of an external turret mooring system for a FPSO destined for the Tullow Oil-operated Tweneboa-Enyenra-Ntomme fields, off Ghana. The fabrication of the turret was expected to be completed in 1Q2015. Modec is building the FPSO while its sister company Sofec is responsible for the mooring system.