Floater expert Modec has signed a purchase and sales agreement for an FPSO set to be deployed at Shell’s Gato do Mato project offshore Brazil.
This follows the UK-based energy supermajor making a final investment decision for the project. The Gato do Mato consortium includes operator Shell with a 50% stake and its partners Ecopetrol and TotalEnergies which hold 30% and 20% stakes respectively. Pré-Sal Petróleo is acting as the manager of the production sharing contract.
In early 2024, Shell chose Modec for front-end engineering and design work on the unit. According to a statement by the Japanese firm, the FEED work has been successfully completed.
In addition to the purchase and sales agreement, the two signed a 20-year contract for the operations and maintenance of the FPSO.
When installed, the FPSO will be capable of producing 120,000 bopd as well as associated gas and water. It will be moored at a water depth of approximately 2,000m, around 200 km South of Rio de Janeiro.
Modec will be responsible for the design of the hull and all related topside facilities. The produced stabilized crude will be stored in the FPSO tanks, and the oil will be offloaded to shuttle tankers.
The FPSO will feature a new custom-made next-generation hull to meet the 25-year design life. This will be the 19th FPSO to be developed by Modec for Brazil. It will be the second unit to be delivered directly to Shell by the Japanese firm for operation in Brazil.
