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Japan's MODEC has made its first entry into the North Sea thanks to a contract with Denmark's Maersk Oil.
Maersk Oil's UK North Sea business has inked a contract with MODEC for the supply of a floating storage and offloading (FSO) vessel for the US$4.5 billion high-pressure, high-temperature Culzean development.
Culzean, discovered in 2008 in Block 22/25, about 233km off Aberdeen, is the largest new field discovered in the North Sea for a decade, according to Wood Mackenzie. Production is expected to start in 2019 with the field expected to meet about 5% of total UK demand at peak production in 2020-21.
Culzean is being developed using a complex of bridge linked platforms and the FSO.
MODEC will be responsible for the engineering, procurement and construction of the FSO. SOFEC, a subsidiary of MODEC, will design and supply the internal turret mooring system. The FSO will have a receiving capacity of 25,000 b/d condensate and 350,000 bbl storage capacity. The complete unit will be delivered to Maersk Oil in 1H 2018.
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