MODEC to build new FPSO for TEN project

Tullow Oil has settled on MODEC to build a new floating vessel, FPSO for the Tweneboa-Enyenra-Ntomme TEN project.

The area is the country's second major oil field apart from Jubilee. MODEC which is specialized in building floating and production vessels around world would also be responsible for maintaining and operating the vessel.

According to the firm, the vessel can produce 80 thousand barrels of crude a day with a storage capacity of 1.7 billion barrels and would be delivered by 2016.

MODEC built the country's first FPSO for the Jubilee field at a cost of 750 million dollars.

TEN is expecting to pour its first oil by the middle of 2016 and has a reserve estimate of over one billion barrels crude oil.

MODEC is responsible for the engineering, procurement, construction, mobilization and operation of the FPSO, including topsides processing equipment as well as hull and marine systems.

SOFEC will design and provide the mooring system.

Toshiro Miyazaki, President and CEO of MODEC, said “MODEC is very proud to have been selected by the TEN field partners and GNPC to provide and operate the FPSO for TEN, a world class facility in a world class field. We are equally pleased to be a part of the team that will provide a needed energy resource for the benefit of the people of the Republic of Ghana.”

The FPSO award for TEN represents a significant milestone for MODEC in assisting Tullow and its partners to develop a world class oil field while also strengthening MODEC’s involvement in the development of oil exploration and production infrastructure in West Africa.

In West Africa, MODEC has operations in Ghana and Cote d’Ivoire.