BW Offshore: BW Catcher update

BW Offshore is pleased to announce that the FPSO BW Catcher has successfully completed a 168-hour performance test. The final acceptance certificate is expected to be received after review by the Catcher joint venture partners.

The FPSO is operating on a full day rate since the start of the third quarter. The one-off impact from the start-up activities on the financial result in the second quarter of 2018 is expected to be within the previous guiding.

For further information, please contact:

Knut R. Sæthre, CFO, +47 911 17 876

IR@bwoffshore.com or www.bwoffshore.com

About BW Offshore:

BW Offshore is a leading provider of floating production services to the oil and gas industry. The company also participates in developing proven offshore hydrocarbon reservoirs. BW Offshore is represented in all major oil & gas regions world-wide with a fleet of 15 owned FPSOs. The company has more than 30 years of production track record, having executed 39 FPSO and FSO projects. BW Offshore is listed on the Oslo Stock Exchange.

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