The latest announcement is out from Modec ( (JP:6269) ).
MODEC has signed a Purchase and Sales Agreement and a 20-year operations and maintenance contract with Shell for the FPSO Gato do Mato project in Brazil. This project marks MODEC’s 19th FPSO development in Brazil and the second unit delivered to Shell, enhancing MODEC’s presence in the Brazilian offshore oil market and reinforcing its strategic partnership with Shell.
More about Modec
MODEC is a leading provider of floating production solutions, specializing in Floating Production Storage and Offloading (FPSO) vessels for the offshore oil & gas industry. The company engages in Engineering, Procurement, Construction, and Installation (EPCI) activities for FPSOs and also owns and operates its own FPSOs, offering comprehensive and competitive oil & gas production services globally.
YTD Price Performance: 39.24%
Average Trading Volume: 100
Technical Sentiment Signal: Sell
Current Market Cap: $1.94B
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