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Report: Modec idles unit supporting Petrobras' Santos Basin operations

Vessel operator MODEC Inc. ceased operations of a unit assisting Petróleo Brasileiro SA with production in the Santos Basin, according to a Sept. 23 report from Reuters, citing the Japanese firm.

The unnamed vessel helped produce and store 8,347 barrels of oil per day in July, Reuters said, citing Brazil's oil regulator the National Agency of Petroleum, Natural Gas and Biofuels.

Operations were stopped due to regulatory issues with Operation Black Gold, which is a joint operation involving Brazilian federal police, labor regulators and environmental regulators.