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2014-05-02

BW Offshore: Signed contract for the Catcher FPSO

BW Offshore has signed the contract with Premier Oil for a FPSO to operate on
the Catcher oil field in the UK North Sea.

The firm charter period of the contract is 7 years, with extension options of
up to 18 years. Based on a field life of 10 years, the contract value is USD
2.3 billion including FPSO charter rate and opex.

For additional information on the contract, please see the notice on 1 April
2014.

For further information, please contact:
Knut R. Sæthre, CFO, +47 9111 7876
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 and 1 FSO 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 operation, BW Offshore has executed 38 FPSO and FSO projects. The company
is listed on the Oslo Stock Exchange. Further information is also available
onwww.bwoffshore.com

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

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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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