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30 Jan 2020
MODEC, Inc. ("MODEC") is pleased to announce that it has signed a Sales and Purchase Agreement (SPA) with Equinor Brasil Energia Ltda, a subsidiary of Equinor ASA ("Equinor"), to supply a Floating Production Storage and Offloading (FPSO) vessel for the Bacalhau (formerly Carcará) field offshore Brazil.
MODEC was awarded a Pre-Front End Engineering Design (Pre-FEED) contract for the FPSO in December 2018 and has now been selected as the turnkey contractor based upon its successful execution of the Pre-FEED contract and its response to the subsequent Invitation to Tender (ITT).
This contract is based on a two-step award. The FEED and pre-investment are starting now, with an option for the execution phase under a lump sum turnkey contract setup which includes engineering, procurement, construction and installation for the entire FPSO scopes. Option for the contract is subject to Equinor's planned investment decision for the Bacalhau project late 2020.
The FPSO vessel will be deployed at the Bacalhau field, Block BM-S-8, located in the giant "pre-salt" region of the Santos Basin some 185 kilometers off the coast of the municipality of Ilhabela/SP, in the state of São Paulo. Equinor's field partners are ExxonMobil (40%) and Petrogal Brasil (20 %)
MODEC will be responsible for the design and construction of the FPSO, including topsides processing equipment as well as hull and marine systems. The FPSO vessel will be permanently moored at a water depth of approximately 2,050 meters by a spread mooring system to be supplied by MODEC group company, SOFEC, Inc. First oil production is planned in the 2023-2024 timeframe.
The FPSO will be the largest FPSO ever delivered to Brazil. It will have a large topside designed to produce up to 220,000 barrels of crude oil per day, produce and inject up to 530 million standard cubic feet of associated gas per day and inject up to 200,000 barrels of seawater per day. Its minimum storage capacity of crude oil will be 2,000,000 barrels.
The FPSO will be the second application of MODEC's "M350 Hull", a next generation new built hull for FPSOs, full double hull design, which has been developed to accommodate larger topsides and larger storage capacity than conventional VLCC tankers, with a longer design service life. The hull will be built by Dalian Shipbuilding Industry Co., Ltd. (DSIC) in Dalian, China.
"We are extremely honored and proud to have been selected to provide a world class FPSO for Bacalhau project which is Equinor's first pre-salt project in Brazil," commented Yuji Kozai, President and CEO of MODEC. "We believe this is the start of a long-term relationship with our clients Equinor, ExxonMobil and Petrogal Brasil and an opportunity that strengthens MODEC's position as the leading FPSO service provider to the industry. We are committed to carry out this major project by cooperating closely with our clients in order to contribute to the advancement of the energy industry in Brazil."
The FPSO will be MODEC's 17th FPSO/FSO vessel in Brazil and MODEC's 9th FPSO in the pre-salt region, as well as MODEC's first contract with Equinor.
MODEC's Bacalhau FPSO Project for offshore Brazil proceeds to EPCI Phase with FID by Equinor
30 Jun 2021
MODEC, Inc. ("MODEC") is pleased to announce that on June 1, 2021, Equinor Brasil Energia Ltda, a subsidiary of Equinor ASA ("Equinor"), took its Final Investment Decision (FID) for a Floating Production Storage and Offloading (FPSO) vessel for the Bacalhau field offshore Brazil.
Following a Sales and Purchase Agreement (SPA) for the FPSO which was signed between Equinor and MODEC in January 2020, with respect to the Front End Engineering Design (FEED) and pre-investment of the FPSO, MODEC has now officially been awarded the contract for Engineering, Procurement, Construction and Installation (EPCI) for the FPSO. MODEC will also provide Equinor with operations and maintenance service of the FPSO for the first year from its first oil production, after which Equinor plans to operate the FPSO until end of the license period in 2053.
The FPSO will be deployed at the Bacalhau field in the BM-S-8 and Carcará North blocks located in the giant "pre-salt" region of the Santos Basin some 185 kilometers off the coast of the municipality of Ilhabela/SP, in the state of São Paulo. Equinor's field partners are ExxonMobil (40%), Petrogal Brasil (20%) and Pre-sal Petroleo SA (PPSA).
The FPSO vessel will be permanently moored at a water depth of approximately 2,050 meters by a spread mooring system to be supplied by MODEC group company, SOFEC, Inc.
The FPSO will be one of the largest FPSO ever delivered to Brazil. It will have a large topside designed to produce up to 220,000 barrels of crude oil per day, produce and inject up to 530 million standard cubic feet of associated gas per day and inject up to 200,000 barrels of seawater per day. Its minimum storage capacity of crude oil will be 2,000,000 barrels. As a remarkable point, the project will use a Combined Cycle Power Generation System as a solution to help reduce CO2 emission of the facility on the operational phase.
The FPSO will be the first application of MODEC's "M350 Hull", a next generation new built hull for FPSOs, full double hull design, which has been developed to accommodate larger topside and larger storage capacity than conventional VLCC tankers, with a longer design service life.
FPSO Bacalhau - World First New Built FPSO with DNV Abate Notation
18 Jul 2024
MODEC, Inc. ("MODEC") is pleased to announce that FPSO Bacalhau has received the Approval in Principle (AiP) for Abate Notation from classification society DNV, making it the first new built FPSO in the world to achieve this prestigious recognition.
In this project, a comprehensive assessment of greenhouse gas emissions abatement on FPSO Bacalhau was conducted according to DNV guidelines*1. The Abate notation requires stringent management of emission systems (similar to ISO 50001 Energy Management requirements) and the implementation of substantial abatement measures onboard to prevent non-emergency flaring and optimize the efficiency of power/heat generation. These measures have positioned FPSO Bacalhau at the forefront of the industry for the lowest carbon emissions per barrel of oil produced.
The overview of the measures is shown below. MODEC obtained AiP of Abate Notation (P+, F, Pr, S) for FPSO Bacalhau.
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MODEC celebrates First Oil milestone of FPSO Bacalhau
16 Oct 2025
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MODEC, Inc. ("MODEC") is proud to announce that the FPSO Bacalhau has achieved First Oil production as of October 15. This milestone also marks our successful delivery for Equinor Brasil Energia Ltda, a subsidiary of Equinor ASA ("Equinor"), on their first pre-salt project in Brazil.
The FPSO Bacalhau is deployed at the Bacalhau field, located in the BM-S-8 and Carcará North blocks within the pre-salt region of the Santos Basin, approximately 185 kilometers off the coast of Ilhabela, São Paulo. Equinor's partners in the field include ExxonMobil Brasil, Petrogal Brasil (JV Galp|Sinopec), and Pré-sal Petróleo SA (PPSA).
Permanently moored at a water depth of around 2,050 meters using a spread mooring system supplied by MODEC group company SOFEC, Inc., the FPSO Bacalhau is one of the largest FPSOs ever delivered to Brazil. The facility is designed to produce up to 220,000 barrels of crude oil per day. It also boasts a minimum crude oil storage capacity of 2,000,000 barrels. The FPSO is also designed with gas turbine combined cycle (GTCC), a technology that significantly reduces carbon intensity.
The FPSO Bacalhau features MODEC's innovative M350 Hull, which offers enhanced topside capacity, greater storage than conventional VLCC tankers, and a longer service life.
This vessel represents MODEC's 17th FPSO/FSO delivery in Brazil, the 9th FPSO in the pre-salt region, and MODEC's first collaboration with Equinor.