Norwegian company BW Offshore has informed that the contract for its Catcher floating production storage and offloading (FPSO) has been extended beyond fixed term.
BW Catcher FPSO, operating at Catcher field in UK, is owned and operated by BW Offshore and 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 January 6, 2025 and from January 6, 2024 the contract is subject to a rolling 12-month termination right.
Until such a termination notice is received, the contract automatically extends on a day-to-day basis beyond January 6, 2025 into the option period, according to BW Offshore.
The Catcher field partnership is made up of Premier Oil UK (Harbour Energy) (50%), Waldorf CNS, Waldorf Production UK (40%) and ONE-Dyas E&P Limited (10%).
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.