MODEC a Japanese company involved in the construction, chartering and operation of platforms for oil and gas production and which will be adding a new FPSO to Guyana’s bourgeoning oil and gas production sector, on Wednesday hailed its presence and participation at Guyana’s 3rd edition Energy Conference and Supply Chain Expo.
MODEC, in a press release, says the FPSO, Errea Wittu, is a significant addition to its portfolio. It will extract oil from the Uaru well in the Stabroek Block.
The Errea Wittu will have the company’s experience in construction and operation and will bring the most modern resources in offshore production. MODEC says it will be one of the most sustainable FPSOs in the world using an energy production system with a combined cycle turbine on board.
The Errea Wittu recovers exhaust heat to produce steam, which is then used to drive a steam turbine for supplemental power generation, increasing overall power cycle efficiency and reducing greenhouse gas (GHG) emissions. MODEC says the impact of the FPSO goes beyond simple resource extraction; it embodies the company’s commitment to local content, prioritizing skills transfer and Guyanese participation.
The FPSO will be deployed approximately 200 kilometers off the coast of Guyana, at a water depth of 1,690 meters and will have the capacity to store approximately 2 million barrels of crude oil. “We are excited to join the esteemed lineup of participants at the Guyana Energy Conference and Supply Chain Expo. This event serves as a pivotal platform for us to engage with key stakeholders, showcase our expertise, and contribute to the discourse surrounding Guyana’s energy landscape”, said Rafael Fumis, MODEC’s country manager.
MODEC describes itself as a global leader with more than 50 years of history and has been operating for the last two decades in Brazilian waters. MODEC, it has operated 14 Oil and Gas platforms and has two other units under construction for the country with more than 3 thousand employees working in Brazil. It says the presence of its booth, strategically positioned in the main auditorium of the Expo, underscores the company’s commitment to Guyana’s burgeoning significance in the global oil and gas arena. Notably, MODEC said it recently inaugurated a local office here further solidifying its foothold in the region.
