MODEC and Africa Finance Corp Forge Strategic Partnership
Japanese floating production specialist MODEC has entered a cooperation agreement with Africa Finance Corp (AFC) to collaborate on FPSO and maritime infrastructure projects across Africa. The partnership combines MODEC’s extensive experience as a floating platforms supplier and operator with AFC’s sophisticated financing capabilities.
MODEC has previously delivered 11 FPSOs/FSOs, one MOPU, and two TLPs for West African fields. The company currently provides charter services for the FPSO Prof. John Evans Atta Mills at Tullow’s TEN fields offshore Ghana and operation services for the FPSO Léopard Sédar Senghor at Woodside’s Sangomar Field offshore Senegal.
AFC, established in 2007 with 45 member countries, has invested over $15 billion in projects throughout Africa. The cooperation framework will facilitate future collaboration in technical and market studies, finance solution structuring, and sourcing potential maritime infrastructure projects.
Source: Offshore Magazine
