MODEC Lands Guyana Floater Contract
Contractor will conduct FEED work on ExxonMobil’s Uaru development, which is expected to lead to construction and installation work.
MODEC has signed a contract to perform front-end engineering and design (FEED) for a floating production, storage, and offloading vessel (FPSO) for the ExxonMobil-led Uaru development project off Guyana. The Uaru FPSO will be the second MODEC-designed M350 hull for FPSO service. The first is destined for Petrobras’ Bacalhau project offshore Brazil.
The M350 is a next-generation newbuild hull for FPSOs, full double-hull design, developed to accommodate larger topside and larger storage capacity than conventional very large crude carrier tankers, with a longer design service life.
Following the Uaru FEED, subject to Guyana government approvals of the development plan, and project sanction including final investment decision by ExxonMobil, MODEC is expected to construct the FPSO and install the vessel. MODEC is also anticipated to operate the FPSO for an initial duration of 10 years, with potential options for continuation.
The M350 newbuild will be designed to produce 250,000 B/D of oil, will have associated gas treatment capacity of 540 MMcf/D, and water-injection capacity of 350,000 B/D.
The FPSO will be installed in a water depth of about 2000 m, using a SOFEC spread mooring system and will be able to store around 2 million bbl of crude oil.
“We are extremely honored and proud to be selected to provide the FEED services for an FPSO for the Uaru project,” said Takeshi Kanamori, president and chief executive of MODEC. “We are equally proud of our robust track record of successful project deliveries in the South America region, and we look forward to cooperating closely with the client and its partners to make this project a success.”
The FPSO will be MODEC’s first for use in Guyana; however, it will be the 18th FPSO/FSO vessel delivered by the contractor for use in South America.