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.
|1968||MODEC begins as Mitsui Ocean Development & Engineering Company in Tokyo, Japan.|
|1972||Houston Office opens.|
|1989||MODEC (U.S.A.), INC. established in Houston, USA.|
|1995||MODEC obtains ISO9000 certification.|
The first chartered FPSO starts operations.
|Singapore Office opens.|
|1999||MODEC International LLC (currently renamed as MODEC International, Inc.) established in Houston, USA.|
|2003||Public listing on the second section of the Tokyo Stock Exchange.|
|Brazil Office opens.|
|2004||Listed on the first section of the Tokyo Stock Exchange.|
The first FPSO relocation project completed.
MODEC acquires SOFEC, Inc., an industry leader of mooring systems.
The FPSO Cidade de Angra dos Reis MV22, for the world's first commercial pre-salt crude oil production project, installed and charter begins.
The 10th MODEC's FPSO/FSO vessel for offshore Brazil achieves First Oil production, 5 months ahead of the schedule anticipated under the contract.
MODEC awarded contract to provide an FSO for Culzean field. The company gains entry into North Sea Oil & Gas industry with this project.
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, FSR-Power and FSR-Water are registered trademarks of MODEC, Inc.