Latest Modec Stories

GEORGE TOWN, Grand Cayman, Nov. 30, 2012 /PRNewswire/ -- Shelf Drilling Holdings Ltd ('Shelf Drilling'), a newly-formed focused provider of shallow water drilling services in Asia, Africa and the Middle East, announces the closing of its $1.05 billion acquisition of 37 jackup drilling rigs, one swamp barge, and associated operations from Transocean Ltd (NYSE: RIG). The transaction was effected pursuant to the terms of the agreements signed on 9 September 2012. Shelf Drilling was...

LONDON, July 29 /PRNewswire/ -- Frost & Sullivan's landmark interactive electric vehicle (EV) workshop, one of the first events of its kind to combine parliamentary debates and industry presentation sessions, was a resounding success in terms of networking opportunities and helping businesses position themselves in the race toward the electric vehicle era. Most significantly, it confirmed that government, stakeholders and the industry are all very much on the same page with regard to...

Tokyo, Aug. 26 (Jiji Press)--Japan's Modec Inc. said Tuesday it has won an order to build and lease an offshore oil facility from Brazil's Petroleo Brasileiro SA, or Petrobras. The value of the deal is likely to exceed 100 billion yen. The Japanese engineering firm did not disclose the exact figure. Modec will build a floating production, storage and offloading (FPSO) vessel by converting an existing oil tanker. The FPSO vessel will be installed in the Tupi area in the Santos Basin, some...

Tokyo, Aug. 12 (Jiji Press)--Modec Inc. shares surged on the Tokyo Stock Exchange Tuesday thanks to the firm's announcement of a large oil production system contract. The issue remained buoyant above 3,200 yen in the afternoon session after rising to as high as 3,350 yen, or 8.4 pct, in the morning. Modec said Monday that it will supply a floating production, storage and offloading, or FPSO, system capable of processing more than 120,000 barrels of oil per day to Tullow Ghana Ltd., an...