OSLO, Norway – BW Offshore has a letter of award (LOA) from Premier Oil to provide an FPSO for the Catcher oil field in the central UK North Sea. Pending UK government and partner sanction the LOA is expected to lead to a final contract.
BW’s scope includes delivery and installation of the FPSO and mooring system, and operation of the vessel throughout the charter period (seven years firm plus options).
The FPSO will have an oil processing capacity of 60,000 b/d and storage for 650,000 bbl. BW will order a newbuild hull from Japan, with conversion and integration work performed in Singapore. The vessel is expected to be ready for production by mid-2017.
Assuming a field life of 10 years, the contract value could reach $2.3 billion including opex.
Premier operates Catcher in partnership with Cairn Energy and MOL.