Our History

Founded in 1968, MODEC has been providing competitive floating solutions for the offshore oil and gas industry and is recognized as a leading specialist in the industry.

MODEC 50th Anniversary Website
1968 MODEC begins as Mitsui Ocean Development & Engineering Company in Tokyo, Japan.
1972 Houston Office opens.
1986

The first FPSO installed and starts operations. (awarded a contract in 1985).

FPSO Kakap Natuna

FPSO Kakap Natuna
(Indonesia)
1989 MODEC (U.S.A.), INC. established in Houston, USA.
1995 MODEC obtains ISO9000 certification.
1996

The first FPSO for Oceania region installed and starts operations.

FPSO Whakaaropai

FPSO Whakaaropai
(New Zealand)
1998

The first chartered FPSO starts operations.
MODEC starts providing Operations & Maintenance services with this project.

FPSO MODEC Venture 1

FPSO MODEC Venture 1
(Australia/East Timor)
Singapore Office opens.
1999 MODEC International LLC (currently renamed as MODEC International, Inc.) established in Houston, USA.
2001

The first TLP installed and starts operations.

Prince TLP

Prince TLP
(USA - Gulf of Mexico)
2003 Public listing on the second section of the Tokyo Stock Exchange.
Brazil Office opens.

The first FPSO for South America region installed and starts operations.

FPSO Fluminense

FPSO Fluminense
(Brazil)
2004 Listed on the first section of the Tokyo Stock Exchange.
2005

The first FPSO relocation project completed.
MODEC's FPSO Buffalo Venture refurbished and relocated from offshore Australia to Thailand.

FPSO Buffalo Venture
(Australia)
FPSO Jasmine Venture MV7
(Thailand)

The first FPSO for West Africa region installed and charter begins.

FPSO Baobab Ivoirien MV10

FPSO Baobab Ivoirien MV10
(Côte d'Ivoire)
2006

MODEC acquires SOFEC, Inc., an industry leader of mooring systems.

SOFEC, Inc.

2010

The FPSO Cidade de Angra dos Reis MV22, for the world's first commercial pre-salt crude oil production project, installed and charter begins.

FPSO Cidade de Angra dos Reis MV22

FPSO Cidade de Angra dos Reis MV22 (Brazil)
2015

The 10th MODEC's FPSO/FSO vessel for offshore Brazil achieves First Oil production, 5 months ahead of the schedule anticipated under the contract.

FPSO Cidade de Itaguaí MV26

FPSO Cidade de Itaguaí MV26 (Brazil)

MODEC awarded contract to provide an FSO for Culzean field. The company gains entry into North Sea Oil & Gas industry with this project.

FSO Ailsa

FSO Ailsa (North Sea)
2016

MODEC expands its product range to include FSRWP® (Floating Storage Regasification Water-Desalination & Power-Generation) and its associated systems for Power only (FSR-Power®) and Water only (FSR-Water®).

FSRWP®

FSRWP®
  • *FSRWP, FSR-Power and FSR-Water are registered trademarks of MODEC, Inc.