The operators of the BW Catcher FPSO vessel have announced its contract has been extended beyond its fixed term.
The BW Catcher FPSO is owned and operated by BW Offshore (OSLO:BWO) and is leased out under a seven-year fixed term contract, with extension options for an additional 18 years.
The Catcher field lies in block 28/9a of the UK central North Sea approximately 174 kilometres from Aberdeen in water depths of around 90 metres.
The area produces from 20 subsea wells on the Catcher, Varadero and Burgman fields tied back to the newly built and leased FPSO vessel.
BW Offshore said the original seven-year base term of the contract expires on 6 January 2025 and from 6 January 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 6 January 2025 into the option period,” BW Offshore said.
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%).