Modec has won a contract from Maersk Oil to supply the floating storage and offloading vessel (FSO) for the Culzean development project in the North Sea.
Last month, Maersk Oil confirmed it would invest $4.5billion in its high pressure, high temperature Culzean field in the UK Central North Sea.
The cash commitment secures Culzean’s future though 2032, supports 6,000 jobs and creates more than 400 direct jobs.
The Tokyo-based floater supplier will be responsible for the engineering, procurement and construction (EPC) of the FSO.
The vessel will have a receiving capacity of 25,000 barrels of condensate per day and storage capacity of 350,000 barrels.
The complete unit is expected to be delivered to Maersk Oil in the first half of 2018.
Sofec, a subsidiary of Modec, will be responsible for the design and supply of the internal turret mooring system.
Toshiro Miyazaki, chief executive of Modec, said: “We are very honoured to be awarded the contract for the supply of the FSO to Maersk Oil.
“This new contract represents a significant milestone for Modec in gaining entry into the important North Sea oil and gas industry.”