Norwegian floating production rivals BW Offshore and Teekay are in the final stages of their competition that will decide who will provide an FPSO for Premier Oil’s Catcher development in the UK North Sea

A decision on the preferred contractor is expected soon but before Premier can finalise and commit to either a ship-shaped or round-hulled solution for Catcher, it is understood that the operator will have to digest the tax implications for bareboat charters of vessels outlined in an Autumn Budget statement by UK Chancellor George Osborne.