MODEC, AFC enter offshore Africa FPSO collaboration

MODEC has signed a cooperation agreement with Africa Finance Corp. (AFC), an infrastructure solutions provider.

The duo plans to collaborate on FPSO and other maritime infrastructure projects in Africa, according to MODEC's Sept. 2 news release.

MODEC has previously delivered 11 FPSOs/FSOs, one MOPU and two TLPs for fields in West Africa. It currently provides charter service for the FPSO Prof. John Evans Atta Mills at the Tullow-operated TEN fields offshore Ghana, and operation and maintenance services for the FPSO Léopold Sédar Senghor at Woodside’s Sangomar Field offshore Senegal.

AFC, a financial institution formed in 2007, has 45 member countries and has invested more than $15 billion in projects throughout Africa, MODEC said.

Its service offering is said to comprise specialist industry experience with financial and technical advisory, project structuring, project development and risk capital services to address infrastructure development requirements.

The cooperation arrangement is a framework for future collaboration and information exchange in technical and market studies, structuring of finance solutions, and sourcing potential projects for future maritime infrastructure, MODEC added.