MODEC Inc. has secured a contract from ExxonMobil Guyana Ltd. to develop a Floating Production, Storage, and Offloading (FPSO ...

The contract, signed off earlier this week, was awarded by Modec and covers the forward section of its “Next Generation” FPSO hull destined for Shell's Gato do Mato oil project offshore Brazil.

The Alexandre de Gusmão FPSO is expected to raise production capacity at the field by 31%. After the installation of the fifth FPSO, the field’s production is expected to reach 770,000 barrels ...