MODEC to officially opens Guyana office

Japanese company MODEC will officially open its Guyana office on Friday as the company continues to play an integral role in the country’s oil and gas sector. The company’s office will be stationed at the Pegasus Suites and Corporate Centre.

MODEC is becoming a prominent name in the local energy sector as it is slated to deliver two of the upcoming new floating production, storage, and offloading (FPSO) units for the Uaru and the Hammerhead projects.

The Errea Wittu FPSO which will service the Uaru field is already under construction, while the Hammerhead FPSO is in the early stages of development with FEED (Front-End Engineering and Design) underway. The Hammerhead makes up the country’s seventh oil field, with an expected start up by 2029. The Uaru is the fifth oil field within the offshore Stabroek Block.

Despite its modest entry into the Guyanese market in 2023, MODEC continues to grow exponentially. With a small team of less than 10, the company has expanded with a staff of over 200 expected by 2026.

MODEC says it continues to focus on training and equipping its work force as it seeks to integrate Guyanese into its operations. Several persons in various disciplines have already benefited from overseas training and academic upgrades.

MODEC says it has been a leading provider of floating offshore solutions for the oil and gas industry for more than 55 years. The company was founded in Japan and is present in over 15 countries. In its operations globally, MODEC has delivered over 50 floating units and has always worked valuing the local expertise, developing partnerships, transferring knowledge, and boosting the country’s economy.