BW Offshore: BW Catcher commenced transit to the North Sea
27 August 2017 - 1:01AM
BW Offshore is pleased to announce
the sail away of the FPSO BW Catcher. The vessel has left Keppel
Shipyard in Singapore and is currently in transit to the Catcher
field in the central North Sea.
BW Catcher is expected to reach UK
waters early in the fourth quarter, depending on prevailing weather
conditions. Upon its arrival, BW Catcher will commence 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 USD 2.3 billion including FPSO charter rate and opex.
"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," said Carl K. Arnet, the CEO of BW
Offshore.
BW Catcher has an oil storage
capacity of 650,000 barrels and a processing capacity of 60,000
barrels per day. The FPSO has a design life of 20 years of
uninterrupted operations, and will be moored using a Submerged
Turret Production system.
For further information, please contact:
Knut R. Sæthre, CFO, +47 911 17 876
IR@bwoffshore.com or www.bwoffshore.com
About BW
Offshore:
BW Offshore is a leading global
provider of floating production services to the oil and gas
industry. BW Offshore has a fleet of 14 owned FPSOs and one FSO
represented in all major oil & gas regions world-wide. BW
Offshore has a long track record on project execution and
operations. In more than 30 years of production, BW Offshore has
executed 38 FPSO and FSO projects. The company is listed on the
Oslo Stock Exchange.
This information is subject
to the disclosure requirements pursuant to section 5 -12 of the
Norwegian Securities Trading Act.
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: BW Offshore via Globenewswire
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