The vessel is expected to reach the UK’s water early in the fourth quarter, depending upon the weather conditions. After reaching the destination, BW Catcher’s seven year contract with Premier Oil will begin.
The fixed term contract is valued at $2.3bn and it also has an option for extension up to 18 years. The contract value includes FPSO charter rate and opex.
BW’s FPSO Catcher has an oil storage capacity of 650,000 barrels and a processing capacity of 60,000 barrels per day. The vessel has been designed to have a life of 20 years with uninterrupted operations and will be moored with a Submerged Turret Production system.
BW Offshore CEO Carl K. Arnet said: “The BW Catcher has been completed on time and within budget, and we are especially pleased with the good HSE performance during the construction project.
“We have worked over 11 million man hours without a lost time injury and in total around 19 million man hours. The FPSO is now underway to the North Sea for hook-up at the Catcher field, and with first oil scheduled later this year.”
In April this year, BW Offshore, through its subsidiary BW Energy Gabon, had completed the acquisition of 25% working interest in the Dussafu production sharing contract from Pan-Petroleum Gabon.
With the acquisition, BW Offshore holds a 91.6% working interest in the Dussafu production sharing contract.
