Woodside Selects MODEC for TLP FEED

Houston, April 13, 2011 - MODEC is pleased to announce that Woodside has selected MODEC as one of two companies to perform the Front End Engineering Design (FEED) for two (2) Dry Tree Units (DTUs) for the Browse LNG Development (Browse). Woodside is Australia's largest publicly traded oil and gas exploration and production company and one of the world's leading producers of liquefied natural gas. As the Browse Operator, Woodside leads a group of veteran oil and gas organizations (BHP Billiton, BP, Chevron, and Shell).

MODEC will utilize its proprietary Ring Pontoon (RP) Tension Leg Platform (TLP) design for the Browse DTUs, which will be deployed to the Calliance and Brecknock fields. The FEED is scheduled for completion by the end of August 2011.

MODEC Director and Executive Officer Shashank Karve said, "This is an extremely important project for MODEC and further solidifies MODEC as the premier TLP designer and global supplier. MODEC continues to endeavor to bring innovation to the oil and gas marketplace and has staffed this challenging project with a strong focus on safety, cost, and operational efficiency. Should MODEC be selected for the supply of the Calliance and Brecknock TLPs, they will be MODEC's sixth and seventh TLPs and the first to be designed and installed in Australia. MODEC has a strong history of industry first innovation and looks forward to providing Woodside and its partners with the very best TLP technology. We will execute the FEED with proven and experienced TLP personnel, with the target to be the company selected to provide Woodside and its partners with the very best in TLP technology."

The Browse FEED is being executed from MODEC's project office located in the Energy Corridor of Houston, Texas.
Source: Modec