- In March 2025, MODEC marked a major milestone in FPSO construction for a Brazilian natural gas project, reaching 1 million work hours without LTI or LTA. This achievement enhances MODEC’s market position, reinforcing demand for advanced offshore production systems and driving growth in the single point anchor reservoir market, especially as deepwater exploration expands
- In August 2021, MODEC, Inc. achieved First Oil production with the FPSO Carioca MV30 in Brazil’s Sépia field. Leased to Petrobras for 21 years, the FPSO operates 200 km offshore in 2,200 meters of water, processing 180,000 barrels of oil daily with 1.4 million barrels of storage. This milestone strengthens MODEC’s FPSO market position, highlighting rising demand for advanced offshore production systems and driving growth in the single point anchor reservoir market amid expanding deepwater exploration
