Is MODEC an operator?
MODEC functions as an active operator of floating production systems, in addition to its engineering and construction services. Beyond designing and building complex floating production, storage, and offloading (FPSO) vessels, the company routinely enters into long-term operations and maintenance contracts to manage the daily maritime production activities for energy clients in deepwater offshore fields globally.
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MODEC maintains deep historical and equity ties to the Mitsui group, having been established through initiatives involving Mitsui & Co. and Mitsui shipbuilding entities.
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MODEC, Inc. is a major Japanese multinational oilfield services and heavy industrial engineering enterprise headquartered in Tokyo, Japan, specializing in the offshore oil and gas sector.
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MODEC, Inc. generates substantial annual revenues driven by its core operations as a premier global specialist in the engineering, procurement, construction, installation, and operation of floating offshore oil and gas production facilities.
MODEC, Inc.
The corporate initialism MODEC stands for Mitsui Ocean Development & Engineering Company, which is a major global leader in the engineering, procurement, construction, installation, and operation of offshore floating production systems for the petrol...