MODEC (Mitsui Ocean Development & Engineering Co., Ltd.) is to convert the VLCC Radiant Jewel into the FPSO Cidade de Sao Paulo MV23. The FPSO will be capable of processing 120,000 barrels of oil or 150,000 barrels of total fluids per day.
It will operate on the BM-S-9 (Guara) Block in the giant "pre-salt" region of Brazil’s Santos Basin. The BM-S-9 block is under concession to a consortium formed by Petrobras (45%), BG (30%), and Repsol (25%).
Petrobras subsidiary PNBV has issued a letter of intent on behalf of the BM-S-9 consortium for the supply, charter, and operations of the FPSO (Floating, Production, Storage, and Offloading ) vessel to Brazil’s Schahin Group and MODEC, Inc. This is the first venture between the Schahin Group and MODEC, Inc.
The Schahin Group and MODEC, Inc. are responsible for the engineering, procurement, construction, mobilization, and operation of the FPSO, including topsides processing equipment as well as hull and marine systems. SOFEC will design and provide the spread mooring.
This is the seventh vessel MODEC will provide and operate in Brazil. MODEC is currently operating the FPSO Fluminense, the FPSO Cidade do Rio de Janeiro MV14, the FSO Cidade de Macae MV15, the FPSO Cidade de Niteroi MV18, and the FPSO Cidade de Santos MV20. The FPSO Cidade de Angra dos Reis MV22 was delivered to MODEC today by China’s COSCO Dalian shipyard and is scheduled to be installed in the fourth quarter of 2010.