Mitsui Ocean Development & Engineering Co., Ltd. (MODEC) was founded in 1968. MODEC's first growth stage involved the design and construction of offshore construction vessels. In the mid-70s, MODEC began constructing jack-up drilling rigs.
The first contract for a Floating Production Storage and Offloading (FPSO) vessel came in 1985 and in 1986 MODEC began operating the unit. Since that first FPSO contract, MODEC has been awarded more than 25 additional FPSO/Floating Storage and Offloading (FSO) EPC projects and provides Operation and Maintenance for FPSOs throughout the world.
MODEC opened a Houston office in 1972, the Singapore office in 1998 and the Brazil office in 2003.
MODEC sold its first Tension Leg Platform (TLP) in 1999 and has since been awarded contracts on four more, including the Marco Polo which at the time of installation was the deepest TLP in the in the world. MODEC was recognized by the 2007 Offshore Technology Conference for innovative technology for the MOSES Self Stable Integrated Platform (SSIP) TLP.
MODEC has developed a proprietary Semi-Submersible design called the Central Pontoon Semi (CP Semi) for use as a production platform. The patented CP Semi design has been model tested and has been Approved in Principle by the American Bureau of Shipping. The CP Semi design was further developed in 2007 to be used in a dry tree application in mild environments such as Brazil, West Africa and Southeast Asia.
MODEC is a general contractor specializing in the engineering, procurement, construction and installation of floating production systems. MODEC is a world leader in providing operations for floating production systems