The FPSO is expected to reach UK waters early in 4Q, depending on prevailing weather conditions.
Upon its arrival, theBW Catcher will start a seven-year fixed term contract, with extension options of up to 18 years, with Premier Oil. Based on a field life of 10 years, the contract value is $2.3 billion including FPSO charter rate and opex, according to BW Offshore.
The FPSOBW Catcher has an oil storage capacity of 650,000 bbl and a processing capacity of 60,000 b/d. The FPSO has a design life of 20 years of uninterrupted operations, and will be moored using a submerged turret production system.
BW Offshore CEO Carl K. Arnet said: “TheBW 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.”