Mitsui Ocean Development & Engineering Co., Ltd. (MODEC) was founded in 1968. MODEC's first growth stage involved the design and construction of offshore construction vessels. In the mid-70s, MODEC began constructing jack-up drilling rigs.
The first contract for a Floating Production Storage and Offloading (FPSO) vessel came in 1985 and in 1986 MODEC began operating the unit. Since that first FPSO contract, MODEC has been awarded more than 25 additional FPSO/Floating Storage and Offloading (FSO) EPC projects and provides Operation and Maintenance for FPSOs throughout the world.
MODEC opened a Houston office in 1972, the Singapore office in 1998 and the Brazil office in 2003.
MODEC sold its first Tension Leg Platform (TLP) in 1999 and has since been awarded contracts on four more, including the Marco Polo which at the time of installation was the deepest TLP in the in the world. MODEC was recognized by the 2007 Offshore Technology Conference for innovative technology for the MOSES Self Stable Integrated Platform (SSIP) TLP.
MODEC has developed a proprietary Semi-Submersible design called the Central Pontoon Semi (CP Semi) for use as a production platform. The patented CP Semi design has been model tested and has been Approved in Principle by the American Bureau of Shipping. The CP Semi design was further developed in 2007 to be used in a dry tree application in mild environments such as Brazil, West Africa and Southeast Asia.
In 2003, MODEC had an initial public offering and was listed on the second section of the Tokyo stock exchange. MODEC has been listed on the first section of the Tokyo stock exchange since 2004.
In 2006, MODEC acquired SOFEC, Inc. and purchased 20% of the shares in Cameron Japan Ltd. (former NATCO Japan Co., Ltd.)
In 2007, MODEC entered into a joint development agreement with Velocys Inc. and Toyo Engineering Corporation to develop and commercialize gas to liquids (GTL) technology for offshore applications.
Mitsui Ocean Development & Engineering Co., Ltd. (MODEC) was founded in 1968. MODEC's first growth stage involved the design and construction of offshore construction vessels. In the mid-70s, MODEC began constructing jack-up drilling rigs.The first contract for a Floating Production Storage and Offloading (FPSO) vessel came in 1985 and in 1986 MODEC began operating the unit. Since that first FPSO contract, MODEC has been awarded more than 25 additional FPSO/Floating Storage and Offloading (FSO) EPC projects and provides Operation and Maintenance for FPSOs throughout the world.MODEC opened a Houston office in 1972, the Singapore office in 1998 and the Brazil office in 2003.MODEC sold its first Tension Leg Platform (TLP) in 1999 and has since been awarded contracts on four more, including the Marco Polo which at the time of installation was the deepest TLP in the in the world. MODEC was recognized by the 2007 Offshore Technology Conference for innovative technology for the MOSES Self Stable Integrated Platform (SSIP) TLP.MODEC has developed a proprietary Semi-Submersible design called the Central Pontoon Semi (CP Semi) for use as a production platform. The patented CP Semi design has been model tested and has been Approved in Principle by the American Bureau of Shipping. The CP Semi design was further developed in 2007 to be used in a dry tree application in mild environments such as Brazil, West Africa and Southeast Asia.ใน 2003, MODEC มีการเสนอขาย และปรากฏในส่วนสองของโตเกียวทรัพย์ MODEC ได้ถูกแสดงในส่วนแรกของโตเกียวทรัพย์ตั้งแต่ปี 2004ในปี 2549, MODEC มา SOFEC, Inc. และซื้อ 20% ของหุ้นใน Cameron ญี่ปุ่น จำกัด (อดีต NATCO ญี่ปุ่น Co., ltd)ในปี 2007, MODEC ป้อนเข้าไปในข้อตกลงการพัฒนาร่วมกับ Velocys Inc. และโตโยวิศวกรรม บริษัทพัฒนา และเงินก๊าซกับของเหลว (GTL) เทคโนโลยีสำหรับการใช้งานที่ต่างประเทศ
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