Premier Oil today announced it has selected a preferred bidder for the Catcher Floating Production Storage Offloading unit.
The company said that it was a long and tough competition between three FPSO suppliers, but did not reveal who the successful bidder was, adding that it was in the process of finalizing details on the contract.
Premier added that the board has sanctioned the development of the Catcher field, in the UK North sea. The field development plan for the Catcher field is expected to be delivered to Department of Energy & Climate Change next week.
The FPSO is scheduled to be delivered in the first quarter of 2017, with first oil expected in 2Q of the same year.