MODEC has entered into a cooperation agreement with Africa Finance Corporation(AFC) to develop floating production, storage and offloading(FPSO) projects and other offshore initiatives along the African coast.
The development of offshore projects
With a consolidated track record in West Africa, MODEC has delivered more than a dozen platforms between FPSO, FSO, TLP and MOPU. It currently manages operations in Ghana and Senegal, and is a strategic player in regional energy production. This experience will be fundamental in the new joint projects with AFC, aimed at sustainable growth and energy self-sufficiency on the continent.
The Africa Finance Corporation has 45 member countries and has mobilized investments of more than US$15 billion in African infrastructure. In addition, its participation guarantees financial strength and long-term vision. In conjunction with MODEC, it will seek to structure viable and resilient proposals for the maritime developmentcombining technical expertise, venture capital and specialized advice.
This agreement was signed during AFC’s visit to Japan within the framework of the ninth TICAD. There, the mutual commitment to accelerate offshore projects that generate economic and social impact in local communities, with a vision aligned to global sustainability standards, was made official. MODEC and AFC aspire to become benchmarks of innovation and cooperation within the African energy sector.
Both organizations have declared their intention to maintain a sustained collaboration, encompassing both the identification of opportunities and the structuring of technical and financial models that will drive coastal development in a phased manner.
Source and photo: AFC
