MODEC secures financing to build FPSO for Eni’s block offshore Mexico

Japan’s MODEC has concluded financing for an FPSO charter project, which will be used on the Eni-operated Area 1 block offshore Mexico. 

To remind, Eni’s development plan for the discoveries of Amoca, Miztón, and Tecoalli within the Offshore Area 1 located in the shallow waters of the Campeche Bay was approved by Mexico’s National Hydrocarbon Commission at the beginning of August 2018.

In October 2018, Eni awarded a Letter of Intent (LOI) to MODEC for the supply, charter, and operations of an FPSO vessel for deployment in Area 1.

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