FPSO MODEC Venture 1
The FPSO MODEC Venture 1 is a converted tanker with a disconnectable external turret. MODEC operated the FPSO in the Elang/Kakatua/Kakatua North oil fields in the Timor Gap JPDA (Joint Petroleum Development Area) from August 1998 to July 2007.
The FPSO (ex-Skua Venture) was previously owned by BHP Petroleum led joint venture and located on the BHPP operated Skua field in the Timor Sea. MODEC purchased the FPSO and upgraded the vessel to meet the new field requirements. MODEC leased the FPSO and managed all the operations for the Elang/Kakatua/Kakatua North fields.
Scope of Work
- Engineering
- Procurement
- Construction
- Installation
- Operation and Maintenance
| Unit Name | FPSO MODEC Venture 1 |
|---|---|
| Contract | EPCI + Time Charter |
| First Oil | August 1998 |
| Charter Period | 2 years + extension options |
| Client | ConocoPhillips Petroleum (03-12) Pty. Ltd. (Transferred from BHP Petroleum Pty. Ltd.) |
| Status | Decommissioned |
| Field Name | Elang / Kakatua / Kakatua North Field |
|---|---|
| Country | JPDA (Joint Petroleum Development Area) - Australia/East Timor |
| Water Depth | 90 m (295 ft) |
| New/Conv | Conversion |
| Mooring Type | Disconnectable External Turret |
| Storage Capacity | 750,000 bbls |
|---|---|
| Oil Production | 32,500 bopd |
| Gas Production | 6 mmscfd |
| Water Production | 21,000 bwpd |
Related Press Releases
- August 24, 2007
- MODEC Redeploys FPSO MODEC Venture 1
- July 5, 2007
- MODEC has FPSO available for time charter