Shell do Brasil Awards MODEC Operations and Maintenance Contract for FPSO Vessel

Shortly after disclosing a final investment decision (FID) for its deepwater development project in the pre-salt area of the Santos Basin off the coast of Brazil, Shell do Brasil, a Brazilian subsidiary of the UK-headquartered energy giant Shell, has handed out a multi-year operations and maintenance assignment to Japan’s MODEC for a floating production, storage, and offloading (FPSO) vessel destined to work on this project in Brazilian waters.

Key Developments

A little over a year after Shell postponed the FID for its Gato do Mato project in November 2022, explaining that it did not expect to make it within 12 to 24 months, Cristiano da Costa, President of Shell Brasil, said the company was planning to take the final investment decision for the project in 1Q 2025.

To this end, MODEC was picked to handle the hull design and all related topside facilities for an FPSO unit destined to work on the project. Shell adhered to its disclosed timeline and took the FID for the Gato do Mato deepwater project on March 21, 2025.

Project Details

According to the Japanese player, the FPSO Gato do Mato will sport a new-built, custom-made next-generation hull to meet the 25-year design life. Once installed, the FPSO Gato do Mato, which will be capable of producing 120,000 barrels of oil per day (bopd) and associated gas and water, will be moored at a water depth of approximately 2,000 meters, around 200 kilometers south of Rio de Janeiro.

MODEC has confirmed that it will be responsible for the design of the hull and all related topsides facilities for the FPSO, which will be moored by a SOFEC spread mooring system. The produced stabilized crude is set to be stored in the FPSO tanks with the oil to be offloaded to shuttle tankers to go to market.

Future Operations

The Gato do Mato consortium encompasses Shell (operator with a 50% stake), Ecopetrol (30%), TotalEnergies (20%), and Pré-Sal Petróleo SA (PPSA) acting as manager of the production sharing contract (PSC). This deepwater project is scheduled to come into operation in 2029.

The Gato do Mato pre-salt gas-condensate discovery, in water depths ranging from 1,750 to 2,050 meters, spans two contiguous blocks: BM-S-54, a concession contract signed in 2005, and Sul de Gato do Mato, a production sharing contract (PSC) obtained in 2017.

Conclusion

Shell and MODEC’s collaboration on the FPSO Gato do Mato project signifies a significant step forward in the development of Brazil’s deepwater resources. With cutting-edge technology and strategic partnerships, the project is poised for success in the coming years.