Modec Signs FPSO Deal with Shell for Gato do Mato Project

Modec, a leading floater expert, has recently inked a purchase and sales agreement for an FPSO that will be deployed at Shell’s Gato do Mato project off the coast of Brazil.

The agreement comes on the heels of Shell’s final investment decision for the project. The Gato do Mato consortium comprises Shell as the operator with a 50% stake, along with partners Ecopetrol and TotalEnergies holding 30% and 20% stakes, respectively. Pré-Sal Petróleo is overseeing the production sharing contract as the manager.

Shell awarded Modec the front-end engineering and design contract for the FPSO in early 2024. The Japanese firm has successfully completed the FEED work, paving the way for the next phase of the project.

As part of the agreement, Modec and Shell have also signed a 20-year contract for the operations and maintenance of the FPSO, ensuring smooth operations throughout its lifecycle.

Once operational, the FPSO will have the capacity to produce 120,000 barrels of oil per day, along with associated gas and water. It will be stationed in a water depth of approximately 2,000 meters, located around 200 km south of Rio de Janeiro.

Modec will oversee the design of the hull and all associated topside facilities. The FPSO will store the produced crude in its tanks, with oil being offloaded to shuttle tankers for transportation.

Notably, the FPSO will feature a new custom-made hull designed to meet a 25-year lifespan, making it the 19th FPSO developed by Modec for Brazil. It will also be the second unit delivered directly to Shell by Modec for operations in Brazil.