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FPSO Cidade do Rio de Janeiro MV14 - Credit: MODEC Brazilian national oil and gas company Petrobras has suspended Japanese FPSO specialist MODEC from bidding for new floating production storage and offloading vessel projects. A day after the announcement the Japanese firm named a new CEO but the change is seemingly not related to the Petrobras issue. MODEC, which sees Brazil as its main market, said last Thursday it had received a notification from Petrobras that its eligibility to participate in new competitive bidding by Petrobras has been suspended for 13 months from March 31, 2021. According to the notification, as shared by MODEC, the main basis for this administrative sanction is losses to Petrobras presumably caused by the performance of three Floating Production Storage and Offloading (FPSO) vessels under charter services that MODEC has provided in the past and/or is presently providing to Petrobras.

Rio grande do norteTakeshi kanamoriYuji kozaiFloating production storageRio de janeiroRepresentative directorExecutive vice presidentரியோ கிராண்டே செய் நார்ட்மிதக்கும் ப்ரொடக்ஶந் சேமிப்புரியோ டி ஜானிரோபிரதிநிதி இயக்குனர்நிர்வாகி துணை ப்ரெஸிடெஂட்