Modec International to provide FPSO for Bijupira and Salema fields

Vessel & ROV News - July 27, 2001

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MODEC International LLC, a joint venture of FMC Technologies and MODEC Inc, Tokyo, has signed a contract with Enterprise Oil to provide the Floating Production Storage and Offloading (FPSO) and related subsea equipment for itsBijupira and Salema fields development offshore Brazil. The contract isvalued at approximately $290 million.

MODEC International will supply the FPSO vessel, flowlines and risers. The contract includes 13 years of operations that will be managed by MODEC International. FMC Technologies' Energy Systems unit will supply a turret mooring system as well as five subsea manifolds, with a combined value of $56 million.

FMC Technologies will also receive three-eighths of the profits from the FPSO through its ownership stake in MODEC International. The planned FPSO facility will have an oil processing capacity of 70,000 barrels of oil per day, gashandling of 75 million cubic feet per day, water injection of 92,000 barrelsper day and storage capacity of 1.2 million barrels.

The Bijupira and Salema fields are located adjacent to each other in theCampos Basin, some 175 miles from Rio de Janeiro, in water depths rangingfrom approximately 1,575 to 2,900 feet. Artificial lift will be required toraise the reservoir fluids to the surface for processing, and reservoirpressure will be maintained by the high-pressure injection of seawater toassist oil recovery.

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