BW Energy extends contract for BW Catcher FPSO in UK North Sea
(WO) – BW Energy announced that its BW Catcher FPSO’s contract has been extended beyond its fixed term. The FPSO is leased out under a seven-year fixed term contract, with extension options for an additional 18 years.
The original seven-year base term of the contract expires on Jan. 6, 2025. From Jan. 6, 2024, 2024, the contract is subject to a rolling 12-month termination right. Until a termination notice is received, the contract automatically extends on a day-to-day basis beyond Jan. 6, 2025, into the option period.
The Catcher field partnership is made up of Premier Oil UK Limited (Harbour Energy) (50%), Waldorf CNS (I) Limited, Waldorf Production UK PLC (40%) and ONE-Dyas E&P Limited (10%).
The Catcher area is located in the UK North Sea, roughly 174 km from Aberdeen in 90 m water depth. According to partner Harbour Energy, the Catcher area produces from 20 subsea wells from the Catcher, Varadero and Burgman fields. The wells are a combination of water injection and production wells, which are tied-back to the BW Catcher FPSO. Harbour Energy reports that the Catcher area produces 19,000 boed on average, according to 2022 reports.
BW Offshore engineers innovative floating production solutions. The company has a fleet of five FPSOs with potential to grow. By leveraging four decades of offshore operations and project execution, the company creates tailored offshore energy solutions for evolving markets world-wide. BW Offshore has around 1,400 employees and is publicly listed on the Oslo stock exchange.
