Modec wins FPSO deal for one of world’s largest deep-water discoveries

A concept of how the SNE field FPSO will look. Pic from Woodside Energy
A concept of how the SNE field FPSO will look. Pic from Woodside Energy

Japanese firm Modec has been awarded a contract to design and build an FPSO for one of the world’s largest deep-water oil discoveries.

Modec will carry out the design of the floating production, storage and offloading vessel for the SNE field offshore Senegal, operated by Woodside Energy.

The firm will also supply, charter and operate the vessel, subject to a final investment decision from Woodside this year.

The SNE deep-water oilfield is expected to be the West African country’s first offshore development, lying around 60miles off the coast of the capital city, Dakar.

At least 560million barrels of oil are recoverable from the SNE discovery.

The FPSO will be able to produce around 100,000 barrels of oil per day, with first oil targeted for 2022.

The value of the contract has not been disclosed.

The SNE field is operated by Woodside with a 35% stake. Its partners are Cairn Energy Senegal (40%), FAR Limited (15%) and Petrosen (10%) under a production sharing contract.

Woodside CEO Peter Coleman described the award for the front-end engineering design contract as an important milestone.

He said: “Securing an FPSO facility is a significant step for the joint venture and will allow the project team to complete the technical and commercial activities required to support a final investment decision, targeted for mid-2019.”