Modec Inc - Company Profile

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Modec Inc: Overview

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Modec Inc (Modec), a subsidiary of Mitsui Engineering & Shipbuilding Co Ltd, is a general contractor specializing in engineering, procurement, construction and installation of floating production systems. The company offers floating production storage and offloading (FPSO) vessels, floating storage and offloading (FSO) vessels, tension leg platforms (TLPs), production semi-submersibles and mobile offshore production units (MOPUs) to oil and gas companies worldwide. Modec also provides floating production system operation and maintenance services; and offers other new technologies to various types of gas production floaters. The company also offers its expertise to offshore wind power applications. It has its operations across the Asia, North Sea, Gulf of Mexico, Brazil, West Africa, and Oceania. Modec is headquartered in Chuo-ku, Tokyo, Japan.

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Headquarters Japan
Address 4f/5f, Nihonbashi Maruzen Tokyu Bldg, 2-3-10, Nihonbashi, Chuo-Ku, Tokyo, 103-0027
Website www.modec.com
Telephone 81 3 52901200
No of Employees 5,225
Industry Energy and Utilities
Ticker Symbol & Exchange 6269 (TYO)
Revenue (2022) $2.7B -29.7% (2022 vs 2021)
EPS XYZ
Net Income (2022) XYZ 110.3% (2022 vs 2021)
Market Cap* $1.4B
Net Profit Margin (2022) XYZ 114.6% (2022 vs 2021)
* As of and is in US$
View Modec Inc financials
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Modec Inc premium industry data and analytics

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Tenders & Contracts

Detailed insights into open, awarded and pre-solicited tenders and contracts for Modec Inc.

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ICT Spend & Tech Priorities

IT Client Prospector provides intelligence on Modec Inc’s likely spend across technology areas enabling you to understand the digital strategy.

Products and Services

Services Brands
Engineering MODEC
Procurement LiBro
Construction
XYZ
XYZ
XYZ
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History

History section provides information on new products, mergers, acquisitions, expansions, approvals, and many more key events.

Year Event Description
2024 Contracts/Agreements In January, the company awarded a contract to Jumbo Offshore Installation Contractors for the pre-installation of the mooring spread of the FPSO Errea Wittu offshore Guyana.
2023 Commercial Operation In June, the company’s Almirante Barroso FPSO achived first oil and started a 21 year charter.
2023 Contracts/Agreements In May, the company was awarded a contract to supply second FPSO by Equinor.
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Competitor Comparison

Key Parameters Modec Inc Saipem SpA SBM Offshore NV BW Offshore Ltd Bumi Armada Bhd
Headquarters Japan Italy Netherlands Bermuda Malaysia
City Chuo-Ku Milano Schiphol Hamilton Kuala Lumpur
State/Province Tokyo - - - Kuala Lumpur (Federal Territory of)
No. of Employees 5,225 - 5,499 1,806 879
Entity Type Public Public Public Public Public
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Executives
Name Position Board Since Age
Takeshi Kanamori Director; Chief Executive Officer; President Executive Board 2021 67
Koichi Watanabe Director - Mitsui E&S Business Service Co., Ltd; Director; General Manager- Finance and Accounting Department, Mitsui E&S Holdings Co., Ltd. Executive Board 2023 -
Yasuhiro Takano Executive Managing Officer; Senior Executive Managing Officer; Chief Financial Officer - Group; Director Executive Board 2023 -
Minoru Sawada Chief Procurement Officer Senior Management 2022 -
Soichi Ide President - MODEC Offshore Production Systems; Chief Executive Officer - MODEC Offshore Production Systems; Chief Digital Officer Senior Management 2022 -
Non Dignissim Eros Proin vel Convallis 2024 XY
Non Dignissim Eros Proin vel Convallis 2024 XY
Non Dignissim Eros Proin vel Convallis 2024 XY
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