BW Offshore: Acquired VLCC for future projects

BW Offshore has exercised an option to acquire the tanker Blue Opal for USD 83.4 million from Daewoo Shipbuilding & Marine Engineering ("DSME").  Blue Opal is a DSME designed and built VLCC (320,000 dwt) from 2012.

BW Offshore has performed detailed engineering studies and inspections of the VLCC since Q4 2012, and is currently evaluating several FPSO projects suitable for the vessel. 

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 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 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 www.bwoffshore.com

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