BW Catcher FPSO Contract Extension

awarded

Harbour Energy and its partners in the Catcher oilfield in the UK North Sea have extended the contract for the leased production facility, the BW Catcher floating production, storage and offloading vessel, until the end of 2030. The contract amendments remove previous unilateral options for one-year extensions and introduce a defined end of term framework. The extension is expected to increase BW Offshore's firm operating cash flow backlog by $490 million from 1 February 2026. The revised contract also includes a discount on the dayrate and a revised production tariff structure from 2028 linked to prevailing oil prices.