Modec’s FPSO MV29 selected by the World Economic Forum as a benchmark for Industry 4.0

Modec’s FPSO MV29 selected by the World Economic Forum as a benchmark for Industry 4.0

In Modec’s projections, the country should demand 20 to 30 new floating platforms in the next four years

Modec’s President and Global CEO, Yuji Kozai (photo)<<

Rio de Janeiro, 01/19/2020 – The World Economic Forum has just announced the list of facilities selected to join the Global Lighthouse Network, a community of manufacturers leading the Fourth Industrial Revolution – also known as Industry 4.0. This year, one of the selected sites was the FPSO Cidade de Campos dos Goytacazes MV29, a floating offshore oil production platform operated by the Japanese multinational Modec.

Modec´s FPSO monitoring room

It is the first time that an industrial facility located in Latin America is included in the network, as well as the first offshore unit and the first operated by a Japanese company. The selection of the FPSO Cidade de Campos dos Goytacazes MV29 as the Lighthouse of the Fourth Industrial Revolution pays homage to the fleet digitalization project, together with the complete management of the change in culture and operational excellence, developed by Modec in response to its rapid growth in Brazil. Today, the company has 11 vessels in operation in the country and another four under construction. Worldwide, the company has one of the largest fleets in its segment, with 18 platforms, and is present in Africa, Asia and Oceania.

Digitization allows the company to better integrate its fleet, making the operation safer and more efficient. With more than 10,000 sensors installed on each platform, a Modec increased production, using Advanced Analytics for premeditated maintenance, a digital genre of its process plant and a proprietary data platform to accelerate or develop new algorithms. These techniques allow a 65% reduction in downtime on the MV29, making this installation an industry leader.

“We have a large number of data from our operations in Brazil and, with the help of digital tools, we can check for problems and ensure a safe and constant operation of our fleet”, explains the digital director of the Modec group and vice president of operations for Latin America and Ghana, Soichi Ide. “The processing of this data has brought tangible advances to Modec’s operation, such as the use of machine learning to perform predictive maintenance on equipment and the early identification of problems in our processing plant. This was possible thanks to people involved with digital technology, as well as a ground support team. ”

The recognition of the World Economic Forum reinforces Brazil’s position in the world energy market, as a high technology reference in the offshore segment. Today, the country is highlighted in the sector due to its prospects for the coming years. In 2019, Brazil achieved a total production of more than 3.5 million barrels of oil and gas per day, according to ANP (National Petroleum Agency). In Modec’s projections, the country should require 20 to 30 new floating platforms in the next four years.

“This recognition pays homage to a long history of Modec’s commitment to Brazil and to our customers in the production of oil and gas. We understand that the adoption of disruptive technologies and the acceptance of new ways to improve our operation are essential to respond to the strong demand forecast for the coming years ”, declared Modec’s President and Global CEO, Yuji Kozai.

“We believe that our unique business model for the engineering, construction, chartering and operation of the floating platform will be enhanced to maximize the lifecycle value of our stakeholders in all areas of our business. We want Modec to be a benchmark and help the offshore market take the next step in the digital transformation process in the oil and gas industry towards sustainability, until the complete energy transition is achieved. ”