Modec has signed a contract with Maersk Oil to supply a floating storage and offloading (FSO) vessel for the North Sea’s Culzean development project.
The vessel with storage capacity of 350,000 barrels will be deployed at the Culzean field, 233km off the coast of Aberdeen in water depth of around 295ft.
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Maersk Oil UK operates the Culzean field with co-venturers JX Nippon Exploration & Production (UK) and BP.
Under the contract, Modec will be responsible for the engineering, procurement and construction (EPC) of the vessel, which has receiving capacity of 25,000 barrels of condensate a day.
The internal turret mooring system would be designed and supplied by Modec’s subsidiary Sofec.
Modec plans to deliver the complete unit to Maersk Oil UK in the first half of 2018.
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By GlobalDataModec president and CEO Toshiro Miyazaki said: "This new contract represents a significant milestone for MODEC in gaining entry into the important North Sea oil and gas industry."
In August, the UK Oil & Gas Authority approved the development of the high-pressure, high-temperature (HPHT) Culzean field in the UK Central North Sea.
Production at the field, which has resources estimated at 250 million to 300 million barrels of oil equivalent, is expected to start in 2019 and continue for at least 13 years.
Maersk Oil and its co-venturers are planning to invest around $4.5bn in the development.
The Culzean field is expected to support an estimated 6,000 UK jobs and create more than 400 direct jobs.
