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FPSO MODEC Venture 1

Decommissioned

MODEC owns & operates

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.

Unit Name : FPSO MODEC Venture 1
Field Name : Elang / Kakatua / Kakatua North Fields (JPDA : Joint Petroleum Development Area)
Country : Australia / East Timor
Water Depth : 90 m (295 ft)
Mooring Type : Disconnectable External Turret
Storage Capacity : 750,000 bbls
Oil Production : 32,500 bopd
Gas Production : 6 mmscfd
Water Production : 21,000 bwpd
New/Conv : Conversion
Client : ConocoPhillips Petroleum (03-12) Pty. Ltd.(Transferred from BHP Petroleum Pty. Ltd.)
Contract : EPCI + Time Charter
Scope of Work : Engineering, Procurement, Construction, Installation, Operation & Maintenance
First Oil : August 1998
Charter Period : August 1998 - July 2007
Current Status : Decommissioned

Related Press Releases

August 24, 2007
MODEC Redeploys FPSO MODEC Venture 1
July 5, 2007
MODEC has FPSO available for time charter