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Japanese shipbuilder excited to anchor in Guyana’s oil sector
…makes appearance at Energy Conference
Kaieteur News – MODEC, the Japanese shipbuilder constructing Guyana’s fifth oil vessel, recently expressed its excitement at the prospect of anchoring in the oil sector of the world’s fastest growing economy.
In a statement to the media on Wednesday, the company noted its grand appearance at the Guyana Energy Conference and Supply Chain Expo which comes to a conclusion today at the Marriott Hotel.
Marking its inaugural presence at the conference, MODEC’s booth was strategically positioned in the main auditorium. The company said it considered this to be an important milestone that serves to mark its entrance and commitment to Guyana’s market.
“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.
Notably, MODEC is building the Errea Wittu floating, production, storage and offloading (FPSO) vessel which will operate at ExxonMobil’s Uaru project in the Stabroek Block. MODEC said this is a significant addition to its portfolio as it noted that the vessel will benefit from the company’s experience in construction and operation and will bring the most modern resources in offshore production.
“It will be one of the most sustainable FPSOs in the world, using an energy production system with a combined cycle turbine on board,” said the Japanese shipbuilder. MODEC said that production system reinforces its leadership role with such vessels. “It recovers exhaust heat to produce steam, which is used to drive a steam turbine for supplemental power generation, increasing overall power cycle efficiency and reducing greenhouse gas (GHG) emissions,” the company explained. It further noted that 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.
Additionally, MODEC said 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 two million barrels of crude oil.
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