GE Oil & Gas inks FPSO agreement with MODEC

LONDON -- GE Oil & Gas has signed a major agreement with MODEC, an owner/operator and EPCI general contractor of floating production systems, to supply and service gas turbines for FPSOs in Brazil.

 

MODEC ordered GE gas turbines for eight FPSOs based in Brazil and signed a 25-year maintenance contract for gas turbines on six FPSOs. The contractual service agreement will include data analytics for advanced monitoring and diagnostics, helping to improve equipment availability and operational efficiency.

 

It is one of GE’s largest ever service agreements for FPSOs and represents a new milestone for the offshore industry.

 

GE Oil & Gas and MODEC have developed a long-term relationship, reflected in the length of the contract. The FPSOs are owned by consortiums comprised of MODEC and its partners, and also MODEC provides operation and maintenance services for those fleets.

 

GE Oil & Gas has a base in Petropolis, Brazil, enabling it, where necessary, to undertake repair work onshore to reduce turnaround time.

 

There is a growing trend in the FPSO segment towards entering into long-term contractual service agreements for FPSOs as opposed to managing maintenance on a single event basis. The use of Digital Solutions in the contract will allow MODEC to maximize operational efficiency and production. It will also reduce offshore manpower requirements.

 

“This agreement reinforces GE’s proven leadership in turbomachinery solutions and how uniquely positioned we are to integrate digital capabilities to optimize industrial assets and increase operational efficiency,” said Rogerio Mendonça, president and CEO of GE Oil & Gas in Latin America.