BW Offshore has reported that the first oil from the Catcher project in the UK North Sea is on track for 2017 despite the delays in the construction of the FPSO.
According to BW Offshore, the owner and operator of the FPSO, during the fourth quarter, the project remained within budget and made good progress on procurement and construction activities for topside, turret mooring system and hull.
To remind, Japan’s IHI Shipyard, that is building the FPSO for the Catcher project, fell behind schedule as another drillship they were constructing had been occupying the main dock. In response, BW Offshore implemented a mitigation plan to minimise the impact on the overall project schedule.
The company said that as of fourth quarter, this mitigation plan has worked well as there was no further slippage. BW Offshore also said it was undertaking a number of modification and life extension activities on existing units.
The FPSO that will go to the Catcher oil field in the UK North Sea will have a processing capacity of 60,000 bopd and a storage capacity of 650,000 bbl. Once delivered, the FPSO will be on a 7-year charter with Premier Oil, producing oil from the Catcher development. Located 180 kilometres east of Aberdeen, the Catcher project includes the development of three main oil and gas fields, Catcher, Varadero and Burgman.
In its fourth quarter report for 2015, BW Offshore reported a net loss of $234.5 million, compared to a $12.7 million profit in the same period the year before.
BW Offshore also informed that the company’s Cidade de São Mateus FPSO still has not been towed back to shore, almost a year after an explosion aboard the vessel resulted in deaths of nine offshore workers.
Offshore Energy Today Staff