Japanese floater specialist Modec has lined up a yard for engineering, procurement and construction work on the Buzios-5 floating production, storage and offloading unit, after a significant breakthrough in contracting talks with Brazil's Petrobras.
China’s Cosco Shipping Heavy Industry is in line to land the job.
The negotiations between Petrobras and Modec began in February after the oil company had run out of patience with the original low bidder for Buzios-5, Belgian contractor Exmar.
