Brazilian oil main Petrobras has suspended Japanese floater skilled Modec from collaborating in aggressive bidding for the following 13 months.
Modec mentioned the primary purpose for this administrative penalty is because of losses to Petrobras that had been apparently brought on by the efficiency of three floating manufacturing storage and offloading (FPSO) vessels below constitution companies that MODEC has offered previously and/or is presently offering to Petrobras.
The FPSOs in query are the FPSO Cidade do Rio de Janeiro MV14, whose constitution contract expired in 2019, and two FPSOs at present below constitution with Petrobras, particularly, the FPSO Cidade de Niterói MV18 and the FPSO Cidade de Santos MV20.
Modec famous that Petrobras’ choice doesn’t affect the execution of the present contracts in place between the 2 firms, and that it nonetheless sees Brazil as its most important and most promising market.