Japanese floater specialist, MODEC, has awarded a significant contract to Dalian Shipbuilding Industry Company (DSIC), a subsidiary of China Shipbuilding Industry Corp, to construct the hull and living quarters for the Errea Wittu floating production and offloading (FPSO) vessel. This vessel is specifically being built for ExxonMobil’s Uaru development which is the fifth project in the Stabreok block offshore.
According to reports from China Daily, construction on the M350 FPSO will commence in October. This agreement marks the second collaboration between MODEC and DSIC for an M350 FPSO, with the first project being Equinor’s Bacalhau venture off the coast of Brazil.
Additionally, MODEC has also inked a US$150 million contract with Bomesc Offshore Engineering, a Chinese shipyard, to construct topsides modules for the Errea Wittu vessel. This agreement further enhances MODEC’s involvement in ExxonMobil’s FPSO projects.
Notably, ExxonMobil has traditionally awarded its FPSO contracts to Dutch-floater specialist, SBM Offshore. However, in November of last year, the company decided to introduce more competition in the industry and granted MODEC a Front End Engineering and Design (FEED) contract for the Errea Wittu vessel.
MODEC has since expressed its intention to operate the FPSO for an initial period of 10 years, with potential options for extension.
The FPSO is being designed to have a production capacity of 250,000 barrels of oil per day, a gas treatment capacity of 540 million cubic feet per day, and a water injection capacity of 350,000 barrels per day. It will be installed in a water depth of approximately 2000 meters using a SOFEC Spread Mooring System and will offer storage for around 2 million barrels of crude oil.