According to its fourth quarter and 2013 results BW Offshore is in the final stages of selection as the preferred bidder for an FPSO contract for the UK North Sea Catcher field development.

Updating the status of the project, the company said after being awarded a FEED (Front End Engineering and Design) study for the North Sea project in the fourth quarter of 2012, and performing the study during the first half of last year, it entered discussions with North Sea Catcher field operator Premier Oil to provide technical and commercial clarifications.

BW says it is expecting a final contract decision in the second quarter of this year.

Teekay Offshore was the other bidder looking to provide a floater for Catcher.

Most recently Premier indicated that Catcher had reached the point of sanction and of contract award, “...both of which are imminent.”

BW reported net profit of US $14.2 million for the fourth quarter of 2013, compared with $18 million for the previous quarter, and $83.6 million for the full year.

Offshore