Shortly after disclosing a final investment decision (FID) for its deepwater development project in the pre-salt area of the Santos Basin off the coast of Brazil, Shell do Brasil, a Brazilian subsidiary of the UK-headquartered energy giant Shell, has handed out a multi-year operations and maintenance assignment to Japan’s MODEC for a floating production, storage, and offloading (FPSO) vessel destined to work on this project in Brazilian waters.
A little over a year after Shell postponed the FID for its Gato do Mato project in November 2022, explaining that it did not expect to make it within 12 to 24 months, Cristiano da Costa, President of Shell Brasil, said the company was planning to take the final investment decision for the project in 1Q 2025.
To this end, MODEC was picked to handle the hull design and all related topside facilities for an FPSO unit destined to work on the project. Shell adhered to its disclosed timeline and took the FID for the Gato do Mato deepwater project on March 21, 2025.
