IHI clinches BW FPSO

Japan’s IHI has won the race to build a new floating production, storage and offloading (FPSO) unit for BW Offshore.

The Nikkan Kogyo daily said the vessel would cost JPY 20bn ($195m) for delivery in the middle of 2017.

TradeWinds reported in April that BW had signed a $2.3bn deal to charter a new unit to Premier Oil for seven years plus options.

BW confirmed the deal to TradeWinds, but said the yard is only building the hull, with the mooring and other systems part of a separate contract.

It will operate in the North Sea's Catcher field.

The FPSO will have a processing capacity of 60,000 barrels per day and a storage capacity of 650,000 barrels.