MODEC Inc. (三井海洋開発株式会社) is a global supplier and operator of offshore floating platforms.[2]
Background
The company has headquarters in Tokyo, Japan and regional offices in Angola, Australia, Brazil, Senegal, Belgium, Ghana,[4] Ivory Coast, Indonesia, Mexico, Nigeria, Singapore, Thailand, United States and Vietnam.
MODEC holds 51% of the shares in SOFEC, Inc and 20% of the shares in NATCO Japan Co., Ltd. Mitsui Engineering & Shipbuilding holds around 18,700,000 shares which represents just over 50% of the company shares issued.
The company has operations in all major offshore regions and currently owns and operates 23 Floating Production Storage and Offloading vessels.
Company history
The company was founded in 1968. In the mid 1970s, MODEC began constructing jack-up drilling rigs.
The company's first offshore production vessel was the FPSO Kakap Natuna installed in April 1986 at the Kakap KH field in 88 meters water depth, approximately 175 miles west of Great