Modec International stood out by bidding to supply floating production, storage and offloading units required for the Libra and Sepia projects without inserting any qualifications.
Sources with knowledge of the tender said Modec’s stance reflected a fundamental difference in the strategy adopted by the Japanese group.
“The other bidders made meeting the high local content requirements an integral part of their bids, while Modec’s proposal assumes there is a high probablility of having to pay penalties for non-compliance.
