Bloomberg News

Modec Converts Tanker for Petrobras, BG Cernambi Field in Brazil

September 29, 2011

Sept. 29 (Bloomberg) -- Modec Inc. and Schahin Engenharia SA will convert an oil tanker into an oil-and-gas production vessel for a Petroleo Brasileiro SA-led project off Brazil.

The partners will refurbish the very large crude carrier Sunrise J into the floating, production, storage and offloading vessel Cidade de Mangaratiba MV24. The FPSO will be able to process 150,000 barrels of oil and 280 million cubic feet of gas a day, Modec said today in a statement.

The unit will be delivered to the BM-S-11 block’s Cernambi South area in the Santos Basin in the third quarter of 2014. BG Group Plc and Galp Energia SGPS SA are partners in the development.

Last year, Tokyo-based Modec, the world’s second-biggest builder of FPSOs, and Schahin won a contract to build a different vessel for Petrobras’s Guara field off Brazil.

-- Editors: Alex Devine, Randall Hackley

To contact the reporter on this story: Eduard Gismatullin in London at egismatullin@bloomberg.net

To contact the editor responsible for this story: Will Kennedy at wkennedy3@bloomberg.net


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