BW Offshore: BW Catcher contract extension
Norway, May 7 -- BW Offshore has entered into an agreement with the Catcher field partners to amend the contract period for the FPSO BW Catcher. The amendments convert the current contract into an agreement with a defined end of term framework to 31 December 2030 (± 6 months) and remove the previous unilateral options for one- year extensions.The amendments are effective as of 1 February 2026 and are expected to increase the Company's firm operating cash flow backlog by approximately USD?490 million as of that date. The revised contract structure provides BW Offshore with clarity on the end of contract timeline, enabling active marketing of the FPSO for new redeployment projects. The updated terms reflect a discount equivalent to 10% of the...
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