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Other Disclosures6269MODEC,INC.Machinery

Notice of the End of Charter Services for FPSO Cidade de Niteroi MV18 Owned by Our Group

Charter services, including operations and maintenance, for the FPSO “Cidade de Niterói MV18” owned by our group offshore Brazil ended on 8 May 2026. The FPSO was subsequently transferred to a facility in Denmark for ship recycling and is scheduled to be recycled.

Worth reading
67In focus
0–100. This measures how worthwhile something is to read, not how good or bad the company is.
Direction
Mixed performance
Direction inferred from the company’s description.
Scale
159000000
Barrels (approximate cumulative crude oil production)
Wording
Conditional
How definitive the wording is.

Announced details

FPSO Cidade de Niterói MV18Charter servicesOperations and maintenance (O&M) servicesEPCI services
Applicable field (uses covered by this announcement)

Floating offshore oil and gas production, storage and offloading in the Marlim Leste block in the Campos Basin offshore Brazil

Launch dateFebruary 2009 (operations commenced; actual)
What the company reported numerically
Quantitative Effects

Approximately 159 million barrels of crude oil produced cumulatively over approximately 17 years

Usage history

Since operations commenced in February 2009, approximately 159 million barrels of crude oil were produced cumulatively over approximately 17 years

Relationship between the counterparty and the company
MODEC,INC.6269
Relationship with the Company

Our company undertook the turnkey engineering, procurement, construction and installation (EPCI) work for the FPSO for Petróleo Brasileiro S.A. and subsequently provided charter services. Capital and personnel relationships are Not disclosed.

CounterpartyPetróleo Brasileiro S.A. (Brazil’s state-owned oil company)

Brazil’s state-owned oil company. Other details, including its location, representative, capital, and year of establishment, are Not disclosed.

Location (as indicated in this announcement)

Ship recycling facility in Denmark (detailed location Not disclosed)

In this announcement the company addresses none of Contract Value / Offering price / Impact on Business Performance.

Announced details
ItemDetails
Names of Products / Services CoveredFPSO Cidade de Niterói MV18, Charter services, Operations and maintenance (O&M) services, EPCI services
CounterpartyPetróleo Brasileiro S.A. (Brazil’s state-owned oil company)
Counterparty overviewBrazil’s state-owned oil company. Other details, including its location, representative, capital, and year of establishment, are Not disclosed.
Relationship with the CompanyOur company undertook the turnkey engineering, procurement, construction and installation (EPCI) work for the FPSO for Petróleo Brasileiro S.A. and subsequently provided charter services. Capital and personnel relationships are Not disclosed.
Launch dateFebruary 2009 (operations commenced; actual)
Applicable areaFloating offshore oil and gas production, storage and offloading in the Marlim Leste block in the Campos Basin offshore Brazil
LocationShip recycling facility in Denmark (detailed location Not disclosed)
Quantitative EffectsApproximately 159 million barrels of crude oil produced cumulatively over approximately 17 years
Usage historySince operations commenced in February 2009, approximately 159 million barrels of crude oil were produced cumulatively over approximately 17 years
Items this document does not state (9)
Contract ValueOffering priceContract DateAward/certification nameAwarding / certifying bodyRegistration number and expiry dateLocation scaleImpact on Business PerformanceSource

These are items the company does not state in this document. We do not leave them blank, nor fill them in from other sources or by inference.

The reasons the company gives

The company's own explanation, not something inferred from the numbers.

The withdrawal work at the offshore Brazilian block was completed. Following the end of the services, the vessel is scheduled to undergo recycling in compliance with the EU Ship Recycling Regulation and the Ship Recycling Convention.

How to read this page

This is not the documentKomori reads the disclosure the company filed and writes this summary. Figures are as stated by the company and are not audited.
Weight is not a verdictIt measures how much this changes what the company had already told the market. It is not a view on the shares.
Corrections happenIf the company reissues this disclosure, the page is rebuilt from the corrected version and the revision number moves up.
Notice of the End of Charter Services for FPSO Cidade de Niteroi MV18 Owned by Our Group | MODEC,INC. (6269) timely disclosure | Komori