Japanese floater specialist Modec has taken delivery of a major floating production, storage and offloading vessel built by Chinese yard Cosco Shipping Heavy Industry, destined for deployment off Brazil for developing a Petrobras-operated pre-salt oilfield in the Santos basin.


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The Carioca FPSO is initially scheduled to leave Cosco’s facility in Dalian city Thursday, but weather conditions will only allow the vessel to sail away on Friday, now scheduled at 6am local time.

Contracting sources said that it will take about 60 days for the floater to arrive at the Sepia field at the Santos basin before the start-up of production early next year.

The FPSO, being chartered by state-controlled Petrobras for a 21-year period, will be installed in 2140 metres of water and has capacity to produce 180,000 barrels per day of oil and 6 million cubic metres per day of natural gas.

Upstream reported earlier that Modec submitted the lowest bid in the tender for the provision of the floater, proposing a dayrate of approximately $720,000.

Modec holds just a 20.1% stake in floater, which internally known as MV30, with Mitsui on 32.4%, MOL on 20.6%, Marubeni on 17.6% and MES on 9.3%.