Offshore staff

TOKYO -- Modec's FPSO Modec Venture 1 will be available for charter on July 27. The field it currently is on – ConocoPhillips-operated Elang/Kakatua/Kakatua North field off Australia – is being abandoned.

Modec Venture 1 is a converted tanker with a disconnectable riser and turret mooring system and capacity to process 32,500 b/d of oil and store 750,000 bbl of oil.

The FPSO has been operating continuously with over 99% uptime for almost nine years, according to Modec. From Aug. 1998 to present, the vessel has offloaded 31.6 MMbbl of oil.

7/9/2007