On October 9, Bomesc Offshore Engineering Co., Ltd. (BOMESC) announced that it has secured a contract for a Floating Production, Storage, and Offloading (FPSO) vessel project.
According to the announcement, Bomesc and its wholly-owned subsidiary, Tianjin Bomesc Offshore Engineering Co., Ltd., have signed FPSO project contracts with Offshore Frontier Solutions Pte. Ltd. (OFS), a subsidiary of MODEC Inc., ABB PTE. LTD. (ABB), and VWS Westgarth Limited (VWS), respectively. Upon completion, this FPSO will be deployed in the Guyana oilfield.
The main scope of work for this contract includes the design, material procurement, and construction of the FPSO’s topside modules. The contract value is approximately $190~240 million USD (approximately 1.353~1.709 billion Chinese Yuan Renminbi), consisting of a fixed-price portion plus the currently estimated variable workload amount. The final contract value will be based on the amount calculated from the actual completed workload confirmed by both parties at the contract’s conclusion.
This FPSO project is primarily divided into four parts, including the topside modules contract, the chemical skid contract, the electrical room contract, and the water treatment module contract. Among these, the FPSO topside modules are scheduled for completion in June 2027, the chemical skids are expected in May 2027, the electrical room will be completed in September 2026, and the SRU water treatment module is planned for completion in January 2027. All project work will be carried out at Bomesc’s Lingang Offshore Heavy Industry construction base.
The announcement pointed out that Bomesc began its cooperative relationship with MODEC in 2007. To date, the two parties have collaborated on over ten FPSO topside module projects, with some projects still under execution.
Based on the long-term cooperative relationships established with MODEC, ABB, and VWS, and having completed multiple projects for them with guaranteed quality and quantity, Bomesc has once again been awarded module construction projects in the offshore oil and gas sector by MODEC, ABB, and VWS. The execution of this FPSO project will further deepen the company’s cooperative relationship with the aforementioned clients and solidify the foundation for subsequent business development. The signing of these contracts will strongly secure the company’s workload and have a positive impact on its current and future year performance.
It is understood that Bomesc Offshore Engineering Co., Ltd. was founded in 1996 and is currently located in the Binhai New Area of Tianjin, China, approximately 150 kilometers from Beijing. It is a professional module EPC service company focused on the international market, dedicated to the design and integrated construction of various modules primarily for offshore oil and gas engineering, liquefied natural gas plants, and mining. It serves international high-end energy and mining clients and is an international EPC company, with nearly 100% of its business coming from international customers.
Bomesc possesses sufficient resources and has the capability to execute multiple projects simultaneously. It has the ability to provide EPC services starting from detailed design for electrical modules, living quarters modules, chemical injection modules, and various skids. It also has the capability to provide EPC services starting from production design for other module products required in offshore engineering, LNG plants, and mining. The company directly owns 760,000 square meters of construction site resources, including an excellent 1000-meter deep-water wharf shoreline, with an annual module construction capacity of 150,000 tons. As the direct owner of the wharf, sites, and all related equipment and facilities, the company ensures strong project execution capability through effective resource utilization.
