MODEC Awarded Spotlight on New Technology by OTC.07

Houston, Mar. 19, 2007

MODEC announced today that it has received a 2007 Spotlight on New Technology award by the Offshore Technology Conference for innovative technology that significantly impacts the offshore exploration and production industry.

MODEC's award was for the MOSES Self Stable Integrated Platform (SSIP) Tension Leg Platform (TLP) - the next generation of TLP design - which is an inherently stable platform that allows for quayside integration and commissioning of the topsides, as well as greater stability during transportation and during installation. The design allows for considerable savings in offshore installation costs and schedule time because there is no need for supplemental stability modules and allows for the use of a wider range of installation vessels to install the platform. The design was a result of a continued working relationship between MODEC and Sea Engineering, Inc.

The first applications of the MOSES SSIP TLP technology were the Okume E (Oveng") and Okume F (Okume"), "twin" TLPs which were installed in early 2006 offshore Equatorial Guinea for Hess Corporation.

"MODEC is extremely proud to offer our SSIP TLP solution - which we consider to be the new generation of TLPs - to our clients," says Willie Rawles, General Manager of MODEC's TLP/Semi division. "The design, construction and installation efficiencies have improved constructability and provide economic and schedule advantages to our clients."

The SSIP design offers superior in-situ performance, design flexibility, fabrication simplicity, and ease of installation when compared with other TLP designs. The open well bay(s) arrangement enhances well bay safety, increases the flexibility for the well arrangement, accommodates a large number of wells and allows drilling from any slot or a designated "drill center".

The MOSES SSIP TLP allows for a typical two-level deck design resulting in a lower topside vertical center of gravity and reduced wind loads. Flowlines and SCRs are supported on sides of the columns which enables easier SCR instal

More than 60,000 attendees are expected at OTC, which occurs 30 April through 3 May at Reliant Park in Houston.

Winning technologies were selected on four criteria:

  • New and Innovative: the technology must be less than two years old
  • Proven: the technology must be proven, either through full-scale application or successful prototype testing
  • Broad Interest: the technology must have a broad interest and appeal for the industry
  • Significant Impact: the technology must provide significant benefits beyond existing technologies

The Spotlight on New Technology awards will be presented at 4 pm Monday, 30 April, at the conference.