North Sea Catcher project receives formal go-ahead
Britain's Department of Energy and Climate Change has approved the development plan for the Catcher area in the UK central North Sea.
Operator Premier Oil aims to produce 96 MMboe with peak oil production around 50,000 b/d.
Oil will be offloaded by tankers and gas will be exported through the SEGAL trunkline system.
Premier says the project went ahead thanks in part to the government'ssmall field allowance scheme. All major service contracts have been awarded, and first oil is due in mid-2017.