Sevan Marine Keeping Fingers Crossed for Catcher FPSO Award
- Business & Finance
Sevan Marine, a Norway-based provider of cylindrical floating production units, expects stiff competition for the Catcher field FPSO contract award. The field, operated by Premier Oil, is located in the UK sector of the North sea.
The tender process for the construction and operating contract for the FPSO was initiated in the first half of 2013. According to data found on Premier Oil’s website, negotiations are currently ongoing with two contractors. BW Offshore has been touted as the competitor to Sevan Marine in this project.
In its quarterly presentation, Sevan Marine CEO Carl Lieung said that the bids have been submitted, and the Premier Oil’s FPSO decision is expected in the coming weeks.
“We believe it will be some close competition, but we cross our fingers it will be in our favor,” Lieung said.
According to a report found on Premier’s website, the Catcher sanction is scheduled for December 2013. First oil from the field is dependent of the FPSO tender process, but Premier expects it to flow in 2H 2016.
“We want to start working and to position ourselves for an upcoming market, which is the FLNG Market,” Lieung added.
He did not reveal much, but from the presentation, one could see that the FLNG unit would be built according to Sevan’s typical cylindrical design.
Offshore Energy Today Staff, November 21, 2013