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BW Offshore: BW Athena to demobilise in February

BW Offshore and Ithaca Energy have agreed on a termination of the FPSO BW
Athena, and the unit will be demobilised in February 2016.

The Athena field is located in the Moray Firth area of the UK Continental
Shelf. BW Athena has had an uptime of 98% since first oil in May 2012, and BW
Offshore stood as duty holder for the unit.

BW Athena first operated under a three year contract, and the operation was
extended with a contract with mutual termination right.

The BW Athena is a versatile and cost efficient floating production unit with
an oil processing capacity of 28,000 barrels per day. The FPSO is now
marketed for new opportunities.

For further information, please contact:

Kristian Flaten, Vice President IR and Corporate Finance, +47 9509 2322

About BW Offshore:

BW Offshore is a leading global provider of floating production services to
the oil and gas industry. BW Offshore is the world's second largest
contractor with a fleet of 14 FPSOs represented in all major oil regions
world-wide. The company also operates additional 2 FPSOs. BW Offshore has a
long track record on project execution and operations, as well as a robust
balance sheet and strong financial capabilities. In more than 30 years of
production, BW Offshore has executed 38 FPSO and FSO projects. The company is
listed on the Oslo Stock Exchange. Further information is also available on

This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.


This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: BW Offshore via Globenewswire


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