Repsol began a new project called FPSO (Floating Production, Storage, and Offloading) in Mexico. This will be a leased float used to make discoveries in the deep waters of Block 29.
This is a process that Repsol has launched with which they intend to ensure a new floating production, storage, and unloading vessel. They will safely anchor their planned offshore oil development in Mexico’s Block 29. In that place is the discovery of deep waters named Polok. Similarly, there is a minor find called Chinwol.
Some sources have revealed information about the energy company in the floating market. They discussed how the Spanish company intends to place a leased FPSO in Block 29. The depths of such a place range from 460 to 600 meters. It will later be joined in an adjacent area called Block X.
Various sources within the FBSO market comment on how selected floating contractors are hired from the market. This is in order to compete for an initial design and engineering contract with benefits for the Forest 29 FPSO.
This is an excellent opportunity for Repsol, as some FPSO contractors such as Bumi Armada, BW Offshore, MISC, and Yinson Holdings are already considering this option.
One company that already uses this system is the Japanese float giant Modec International. Currently, it operates the Miamte FPSO in Mexican waters, all through a contract with Eni.
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According to sources consulted by Upstream, the Polok opportunity could be overlooked for two of the largest floating providers. They would be Modec and its arch-rival SBM Offshore, as both are focused on delivering larger units to Brazil and Guyana.
