FPSO MODEC Venture 1

  • FPSO
  • Conversion
  • 90 m
  • External Turret
  • EPCI
  • Lease
  • O&M
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 July 1998 to July 2007.

The FPSO (ex-FPSO 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
Elang / Kakatua / Kakatua North fields (JPDA : Joint Petroleum Development Area)
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
ConocoPhillips Petroleum (03-12) Pty. Ltd. (Transferred from BHP Petroleum Pty. Ltd.)
EPCI + Time Charter
Scope of Work
Engineering, Procurement, Construction, Installation, Operation & Maintenance
First Oil
August 1998
Charter Period
August 1998 - July 2007
Current Status