The decision authorises the construction of a floating production, storage and offloading (FPSO) vessel, the first new manned installation for Shell in the northern North Sea in almost 30 years.
The consideration for the transactions amounts to US$1.95 billion, including closing adjustments.
Early production from the Catcher field in the North Sea is expected to be approximately 10 000 bpd.
It is introducing over 180 additional part numbers in outer diameters from 1 to 12 in.