MODEC

Vidya Digital Fabric maintenance is launched in US offshore operations

Retrieved on: 
Monday, November 27, 2023
Material, Petrobras, Anomaly, MODEC, NACE, Oil, Artificial intelligence, DFM, Corrosion, Gas, SPE, Corrosion engineering, 3D, AMPP, Vidya, POB, Maintenance (technical), Cryptocurrency

CURITIBA, Brazil, Nov. 27, 2023 /PRNewswire/ -- Downtime is the main enemy of Oil and Gas operations. Leading to the loss of barrel production and, therefore, lost revenue. In offshore operations, corrosion is one of the biggest integrity concerns, with the annual cost estimated at US$1,372 billion. But what if an AI-driven solution could autonomously detect corrosion, and predict the degradation process of assets, avoiding downtimes? This is the objective of the Digital Fabric Maintenance application, developed by Vidya Technology - an experienced company, that just began its operations in Houston.

Key Points: 
  • In offshore operations, corrosion is one of the biggest integrity concerns, with the annual cost estimated at US$1,372 billion.
  • This is the objective of the Digital Fabric Maintenance application, developed by Vidya Technology - an experienced company, that just began its operations in Houston.
  • Additionally, at the beginning of 2023, the Digital Fabric Maintenance Solution was a finalist at the Materials and Performance - Corrosion Innovation Award, an initiative of the AMPP, formerly NACE.
  • In that way, with the implementation of the Digital Fabric Maintenance application, Vidya significantly reduces the number of People on Board, optimizes the turnover of the inspection and maintenance cycles, and prevents potential failures in critical systems.

Baker Hughes Awarded Significant Gas Technology Contract to Support Equinor’s BM-C-33 Project in Brazil

Retrieved on: 
Wednesday, July 5, 2023
FPSO, Petrobras, Carbon, MODEC, Baker Hughes, Engineering, Bacalhau, BOE, LM2500, FPSO John Evans Atta Mills, CO2, Oil

The project is developed by Equinor with partners Repsol Sinopec Brasil and Petrobras.

Key Points: 
  • The project is developed by Equinor with partners Repsol Sinopec Brasil and Petrobras.
  • “This order is a testament of our established track record when it comes to technology for FPSO vessels.
  • In this project, Baker Hughes expects a more than 20% carbon emissions reduction versus similar open cycle FPSOs with the same power demand.
  • This is the second combined cycle power generation FPSO project developed by Baker Hughes for MODEC and Equinor in Brazilian deep waters, following the award for the Bacalhau FPSO in 2020.

ExxonMobil Guyana Advances Fifth Offshore Guyana Development

Retrieved on: 
Friday, April 28, 2023
Other Natural Resources, Chemicals, Plastics, Oil, Gas, Manufacturing, Energy, Natural Resources, Destiny, FPSO, Prosperity, Floating production storage and offloading, Research, Government, Uaru, MODEC, Rystad Energy, ExxonMobil, FPSO Noble Seillean, Renewable energy

ExxonMobil made a final investment decision for the Uaru development offshore Guyana after receiving required government and regulatory approvals.

Key Points: 
  • ExxonMobil made a final investment decision for the Uaru development offshore Guyana after receiving required government and regulatory approvals.
  • “Our fifth, multi-billion-dollar investment in Guyana exemplifies ExxonMobil’s long-term commitment to the country’s sustained economic growth,” said Liam Mallon, president of the ExxonMobil Upstream Company.
  • ExxonMobil is utilizing its diversified supplier base to help reduce costs and safely accelerate development in its Guyana operations.
  • Hess Guyana Exploration Ltd. holds 30% interest and CNOOC Petroleum Guyana Limited holds 25% interest.

Hess Sanctions Uaru Development Offshore Guyana

Retrieved on: 
Friday, April 28, 2023
Commercial Building & Real Estate, Construction & Property, Professional Services, Other Natural Resources, Other Energy, Utilities, Natural Resources, Oil, Gas, Alternative Energy, Energy, Finance, FPSO, Federal Lands Jobs and Energy Security Act, Engineering, Liza, EPC, Hess Corporation, EDGAR, Hess, Government, Uaru, Climate change, Corporation, Annual report, MODEC, Natural gas, ExxonMobil, Security (finance), News, NYSE, Renewable energy, Whiptail

Hess Corporation (NYSE: HES) today announced it has made a final investment decision to proceed with Uaru, the fifth development on the Stabroek Block, after receiving government and regulatory approvals.

Key Points: 
  • Hess Corporation (NYSE: HES) today announced it has made a final investment decision to proceed with Uaru, the fifth development on the Stabroek Block, after receiving government and regulatory approvals.
  • Uaru will have a production capacity of approximately 250,000 gross barrels of oil per day with production targeted to startup in 2026.
  • “We are excited to sanction Uaru, our fifth oil development on the Stabroek Block,” CEO John Hess said.
  • Hess Guyana Exploration Ltd. holds 30 percent interest and CNOOC Petroleum Guyana Limited holds 25 percent interest.

The Shape – Radix Partnership

Retrieved on: 
Tuesday, July 12, 2022
Technology, Radix, Data management, Engineering, Global, Metal, Machine learning, Education, Maintenance, Vibration, FMEA, Oil, Algorithm, GLOBE, Marketing, Failure, Food, Foodservice, VP, Paulo, Software, FPSO, EHS, KPI-driven code analysis, Transport, Intelligence, MODEC, Maintenance (technical), Health care, Finance

Specifically, Radix is applying FMEA (Failure Mode and Effect Analysis) methodology to FPSO/FPU operations, monitoring symptoms and signals that are frequently the first sign of potential failure.

Key Points: 
  • Specifically, Radix is applying FMEA (Failure Mode and Effect Analysis) methodology to FPSO/FPU operations, monitoring symptoms and signals that are frequently the first sign of potential failure.
  • In parallel, Shape is providing data management tools to deliver a holistic view of the FPSOs maintenance status to the operators.
  • Founded in 2010, Radix Engineering & Software is a privately held global engineering, software, and Operations/Information Technology consulting company with more than 1,300 employees around the world.
  • With a strong focus on results, people, and long-term relationships, Radix has been developing projects in more than 35 countries worldwide.

McDermott Announces Second Shipment of MODEC FPSO Modules

Retrieved on: 
Thursday, November 5, 2020
Petroleum industry, Floating production storage and offloading, Offshore engineering, Oil storage, Petroleum production, MODEC, Energy, Petroleum industry in Ghana, FPSO John Evans Atta Mills

HOUSTON, Nov. 5, 2020 /PRNewswire/ --McDermott International, Ltd today announced the second shipment of topside modules for a floating production storage and offloading (FPSO) unit for MODEC, Inc. (MODEC).

Key Points: 
  • HOUSTON, Nov. 5, 2020 /PRNewswire/ --McDermott International, Ltd today announced the second shipment of topside modules for a floating production storage and offloading (FPSO) unit for MODEC, Inc. (MODEC).
  • It comes just weeks after the first shipment of modules sailed away from McDermott's Altamira fabrication facility located in Mexico.
  • The MODEC project scope of work consists of five FPSO Topside Modules, which will be delivered to the client in two shipments.
  • This second shipment includes modules that will provide inlet separators, oil separation, a flare KO Drum and sand cleanup materials for the FPSO.

McDermott Announces Shipment of First MODEC FPSO Modules

Retrieved on: 
Wednesday, October 7, 2020
Petroleum industry, Floating production storage and offloading, Offshore engineering, Oil storage, Petroleum production, MODEC, Petroleum industry in Ghana, FPSO John Evans Atta Mills

HOUSTON, Oct. 7, 2020 /PRNewswire/ -- McDermott International, Ltd today announced the first shipment of topside modules for a floating production storage and offloading (FPSO) unit for MODEC, Inc. (MODEC).

Key Points: 
  • HOUSTON, Oct. 7, 2020 /PRNewswire/ -- McDermott International, Ltd today announced the first shipment of topside modules for a floating production storage and offloading (FPSO) unit for MODEC, Inc. (MODEC).
  • The MODEC project scope of work consists of five FPSO Topside Modules, which will be delivered to the client in two shipments.
  • This first shipment includes modules that will provide compression, vapor recovery and a laydown area for the FPSO.
  • McDermott's Altamira fabrication facility in Mexico is delivering the FPSO modules and EPCI fixed platform.

Global FPSO Industry Outlook 2020-2025 - Petrobras Drives Global Upcoming FPSO Deployments - ResearchAndMarkets.com

Retrieved on: 
Tuesday, July 14, 2020
Maritime, Energy, Transport, Oil, Gas, Petroleum industry, Companies, Energy, Floating production storage and offloading, Offshore engineering, Oil storage, Petroleum production, SBM Offshore, MODEC, Petrobras, BW Offshore

The "Global FPSO Industry Outlook, 2020-2025 - Petrobras Drives Global Upcoming FPSO Deployments" report has been added to ResearchAndMarkets.com's offering.

Key Points: 
  • The "Global FPSO Industry Outlook, 2020-2025 - Petrobras Drives Global Upcoming FPSO Deployments" report has been added to ResearchAndMarkets.com's offering.
  • A total of 54 planned and announced FPSOs are expected to start operations during the outlook period 2020-2025.
  • South America leads globally with 21 planned and announced FPSOs, followed by Africa, Asia, and Europe.
  • Among operators globally, Petroleo Brasileiro, Modec and SBM Offshore lead the deployment of planned and announced FPSOs during the period, 2020-2025.

Energy Capital Vietnam Advances with Government Support on First Fully Private LNG Power Project Development in Vietnam after Move to New Location

Retrieved on: 
Thursday, November 8, 2018
Petroleum production, Liquefied natural gas, Petroleum industry, MODEC, Chemistry, Natural gas

Our primary purpose is to bring LNG power to Vietnam in the most efficient and effective manner possible, and we always listen to suggestions and requests from the government," said David Lewis, CEO of Energy Capital Vietnam.

Key Points: 
  • Our primary purpose is to bring LNG power to Vietnam in the most efficient and effective manner possible, and we always listen to suggestions and requests from the government," said David Lewis, CEO of Energy Capital Vietnam.
  • ECV is in the process of engaging the Houston office of Mitsui Ocean Development & Engineering Co. (MODEC) to conduct the feasibility study on its semi-offshore LNG power project.
  • Expected to be completed by 2Q19, the study will confirm final site selection details, optimal LNG storage and a power generating solution.
  • "It's an honor to be the second LNG affiliated project in Vietnam to receive official support from the US government.

MODEC Selects Icertis to Reduce Risk, Improve Compliance in Vendor Contracting in Ghana

Retrieved on: 
Thursday, May 24, 2018
Business, Economy, MODEC, Mitsui, Information technology management, Business process management, Workflow, ICM

The ICM platform will power the digital transformation of MODEC's vendor contracting process as the company looks to excel in the capital-intensive oil and gas market.

Key Points: 
  • The ICM platform will power the digital transformation of MODEC's vendor contracting process as the company looks to excel in the capital-intensive oil and gas market.
  • "At MODEC, we are committed to delivering and safely operating high-quality, innovative platforms for the offshore industry," said William Main, Operations Cost and Contract Lead at MODEC Ghana Ltd., a MODEC Group company.
  • "Icertis will enable us to better collaborate with our partners while reducing risk and improving regulatory compliance."
  • MODEC selected Icertis because of the ICM platform's ability to monitor regulatory compliance across the globe, with region-based variations in workflow.