Mr. Beenen was appointed Chief Operation Officer of BW Offshore in 2016, responsible for the global operations and development of BW Offshore's fleet of FPSOs. He joined BW Offshore in 2012 as Vice President Business Development, followed by the position as Senior Vice President Fleet, responsible for operations in West Africa.
Mr. Beenen is Chairman of the Board of Directors of BW Ideol.
Prior to joining BW Offshore, Mr. Beenen has held executive positions in the Netherlands and USA as President of GustoMSC Inc and Vice President Engineering with SBM Offshore.
He holds a Master’s Degree in Naval Architecture and Offshore Hydrodynamics of Delft University of Technology.
Ståle Andreassen holds the position as Chief Financial Officer of BW Offshore.
Mr. Andreassen came from the position as SVP Finance and joined the company in 2008.
Prior to joining BW Offshore, Mr. Andreassen spent 8 years working for Deloitte in Norway and UK, where he held several positions, lastly as Senior Manager in Audit and Assurance.
Mr. Andreassen holds a MSc in Business from Bodø Graduate School of Business in Norway and an MBA from the Norwegian School of Economics (NHH). He is also a state-authorised public accountant in Norway.
Anders S. Platou holds the position as Chief Strategy Officer of BW Offshore.
Mr. Platou came from the position as Head of Corporate Finance and Strategy and joined the company in 2018.
Prior to joining BW Offshore, Mr. Platou spent 17 years working for DNB in Norway, Singapore and the US, where he held several positions, lastly as Managing Director, Debt Capital Markets.
Mr. Platou holds a B.A with Majors in Economics and International Relations from Tufts University.
Mona Rajoo holds the position as Chief Commercial Officer of BW Offshore.
Ms. Rajoo has over 20 years of experience in the oil and gas arena, beginning with maritime and moving on to offshore. Before joining BW Offshore in 2010, she held several responsibilities in maritime and offshore which included cost control and fleet personnel management and aspects of project services. She has managed the commercial responsibilities within BW Offshore since 2016 as VP Commercial and subsequently SVP Commercial, reporting directly to the Chief Commercial Officer.
She holds a Bachelor of Business (Accountancy) from Monash University, Australia and an EMBA from INSEAD. She is also a member of CPA Australia.
Being an advocate of mental wellbeing and continuous learning, she more recently earned a Postgraduate Diploma in Psychotherapy and Counselling and is a psychotherapist in training.
Ming Yen Yip holds the position as General Counsel of BW Offshore.
Ms. Yip joined BW Offshore in 2012 and has been responsible for corporate matters of the BW Offshore group, acting as board secretary and dealing with investments in respect of projects and operations, mergers and acquisitions (“M&A”) and corporate restructurings.
Prior to joining BW Offshore, Ms. Yip spent 11 years in private practice, starting with Dentons Rodyk and thereafter with Clifford Chance. Her experience as a corporate and transactional lawyer covers advising clients on domestic and cross-border M&As, joint ventures, private equity, corporate finance and capital markets work.
She graduated from the National University of Singapore and was qualified as Advocate and Solicitor of the Supreme Court of the Republic of Singapore in 2002 and has been admitted in England and Wales (Solicitor) since 2007.
Mike McAreavey holds the position as Chief Technical Officer of BW Offshore.
Mr McAreavey was appointed Chief Technical Officer of BW Offshore in in 2024, succeeding his previous role as Head of Operational Integrity which he held from 2017. He joined the company in 2014 as Engineering Manager.
Prior to joining BW Offshore, Mr McAreavey held various engineering and technical management positions within EPC and Operating companies, including Woodside Energy and SBM Offshore.
Mr McAreavey holds a Bachelor of Engineering in Process and Chemical Engineering from Heriot-Watt University in Edinburgh. Mr McAreavey is a Fellow of the Institute of Chemical Engineers.
Andreas Sohmen-Pao is Chairman of BW Group and listed affiliates BW Offshore, BW LPG, Hafnia, BW Energy and Cadeler. He is also Chairman of the Global Centre for Maritime Decarbonisation, and a trustee of the Lloyd’s Register Foundation.
Mr Sohmen-Pao was previously Chairman of the Singapore Maritime Foundation and has served as a non-executive director of The Hongkong and Shanghai Banking Corporation Ltd, London P&I Club, Navigator Holdings, Singapore Symphonia Company, National Parks Board Singapore, Sport Singapore and the Maritime and Port Authority of Singapore amongst others.
Mr Sohmen-Pao graduated from Oxford University in England with an honours degree in Oriental Studies and has an MBA from Harvard Business School.
Rebekka Glasser Herlofsen has over 25 years of experience from the shipping and finance industries, and has served on the management teams of several leading Norwegian shipping companies.
Ms Herlofsen is a board member of Rockwool International A/S, the Torvald Klaveness Group, Wilh. Wilhelmsen Holding ASA and Egmont Group, and Chair of the boards of Aibel AS, the marine insurer Norwegian Hull Club and of Handelsbanken Norway.
Ms Herlofsen is independent from the Company’s management, major shareholders and principal business associates.
Maarten R. Scholten has over 30 years of extensive legal, financial and operational experience in the upstream oil and gas sector.
Mr Scholten has held senior and executive positions at Schlumberger spanning two decades. He was co-founder of Delta Hydrocarbons, an alternative investment fund in the upstream oil and gas sector and held the role of General Counsel at TotalEnergies SA from 2013 to 2017.
Mr Scholten is independent from the company's management, major shareholders and principal business associates.
René Kofod-Olsen has more than 25 years’ experience in the shipping and energy industries.
Mr Kofod-Olsen was appointed CEO of V.Group in November 2020. He started his career in the A.P. Møller-Maersk Group, where he held a variety of executive positions in numerous countries, including Chief People Officer of the SVITZER Group, Chief Executive Officer of SVITZER Asia, Middle East & Africa. In 2012 Mr Kofod-Olsen was appointed Chief Executive Officer of Topaz Energy & Marine, a position he held until the company’s successful acquisition by the DP World Group in 2019, where he became Chief Executive Officer of the combined P&O Maritime Logistics, stepping down after its completed integration in 2020.
Mr Kofod-Olsen has pursued an Advanced Executive Program at Harvard Business School, and Senior Executive programs at INSEAD, IMD and holds a Graduate Diploma in Organization and Marketing from University of Southern Denmark.
Mr Kofod-Olsen is independent from the Company’s management, major shareholders and principal business associates.
Kees van Seventer has more than 25 years’ experience in the infrastructure, new technologies, LNG and energy transition industries.
Mr van Seventer is currently a Managing Partner at KS7 Impact Ventures. He also serves as Chairman of the KitchenSmart Foundation and is a Board member of Sohar Industrial Port Company (Oman) on behalf of the Port of Rotterdam. Mr van Seventer was a Strategic Committee member at Royal Vopak for 18 years, where he held senior executive roles. Prior to this, he held positions at Solveigh M&A and Corporate Development, as well as Royal Pakhoed.
Mr van Seventer studied Technical Business Management (Rijswijk) and holds an MBA from Business School Nederland.
Mr. Kees van Seventer does not hold any ownership interest in the Company and is currently engaged under a one-year consultancy contract to provide consultancy services to BW Offshore in respect of potential new energy business opportunities.
The Audit Committee is responsible for approving the Board’s annual review of the Company’s most important areas of exposure to risk and its internal control arrangements, as well as an annual supervisory plan for internal audit work.
The Audit Committee follows up on internal controls in connection with quarterly reviews of the Group’s financial reporting. At least once a year, the Board and the Audit Committee review the Company’s internal control procedures relating to its financial reporting process. The Audit Committee consists of Ms Rebekka Glasser Herlofsen (Chair) and Mr René Kofod-Olsen, both of whom are also members of the Board.
The Technical and Commercial Committee is responsible for reviewing commercial and technical matters of the Company’s operations, reviewing marketing and tender activities, and matters relating to the undertaking of any technology development and innovation projects, as well as management of risk and opportunities related to these activities. The Technical and Commercial Committee consists of Mr Kees van Seventer and Mr Maarten R. Scholten, both of whom are also members of the Board.
View the Guidelines for the Technical and Commercial Committee
The Compensation Committee ensures thorough and independent preparation of matters relating to compensation paid to the Executive Personnel. The Compensation Committee consists of Mr Andreas Sohmen-Pao (Chairman) and Mr Maarten R. Scholten, both of whom are also members of the Board.
At BW Offshore, we conduct our business with high ethical standards and in compliance with relevant laws. We hold ourselves to high standards, and we expect the same from our external stakeholders and partners.
Read our more about Corporate Governance at BW Offshore here
It is in the interest of BW Offshore, as a public listed company, to effectively communicate with the financial community and other stakeholders in order to provide consistent and transparent information to ensure fair treatment of all stakeholders. The integrity of the capital markets is based on full and fair disclosure of information.
BW Offshore will maintain a reliable and open relationship with investors, and the company’s objective is to provide a higher return than alternative investments with a comparable risk profile. Return is measured on a total shareholder return basis, including both share price performance and dividend payments. Based on these value parameters, the BW Offshore share shall be an attractive investment opportunity.
All shareholders in BW Offshore have equal rights and the company treats all shareholders equally. The company has one share class and each share carries one vote at the company’s general meetings. BW Offshore is a Bermuda limited liability company listed on the Oslo Stock Exchange. The company is therefore obliged to comply with the Bermuda Companies Act, its Memorandum of Association and its Bye-laws, as well as the disclosure requirements of the Oslo Stock Exchange.
Certain aspects of the company’s activities are governed by Norwegian law pursuant to the Listing Agreement between the Oslo Stock Exchange and the company. In particular, the Norwegian Securities Trading Act and the Norwegian Stock Exchange Regulations will generally apply.
BW Offshore commits to good corporate governance and generally comply also with the Norwegian Code of Practice for Corporate Governance. Divergence from this code is clearly described in BW Offshore’s Corporate Governance Report, which is included in the Annual Report and available on the company’s website. BW Offshore is committed to providing timely, orderly, consistent and credible information. Information and communication are regulated by the company’s media policy and investor relation policy, and covers disclosures to the investment community, the press, industry consultants and other audiences. All investors have equal access to material information, and all information provided externally by the company shall be consistent with disclosures to the investment community.
During a period of two weeks before the planned release of an interim financial report, BW Offshore will not comment on matters related to the company’s financial performance or expectations, save for ordinary communication with analysts and investors on general aspects of the business.
BW Offshore maintains a list of primary insiders in the company, and will also maintain internal lists for insiders in cases sensitive to the stock prices.
The investor relations activities aims to ensure that:
BW Offshore’s Board of Directors has a Nomination Committee. See the link below for the latest versions of relevant guidelines being used by the committee.
See the link for the Guidelines on Executive Remuneration adopted by the company.
BW Offshore's policy concerning dividends is as follows;
'BW Offshore has an objective to generate competitive long-term total shareholder returns. This return will be achieved through growth and dividend payments. The company targets to pay dividends on a quarterly basis.
The Board of Directors will target a sustainable dividend level that can grow over time, taking into account the overall cash flow position and future capital requirements. In addition to paying a cash dividend, BW Offshore may also buy back shares as part of its plan to distribute capital to shareholders.'
See the link for the latest version of the approach to Section 172 of the UK Companies Act 2006, prepared for BW Offshore Catcher (UK) Ltd.
Directors' Obligations Under Section 172 of the UK Companies Act 2006
A key focus of the Ethics and Business Conduct compliance management programme at BW Offshore is the assessment of external related parties who work for the various business units or are part of their value chain. All business partners (including country partners, agents acting on behalf of the company, and suppliers who provide goods and services) are assessed for: compliance with relevant laws and regulations; compliance with the principles and spirit of the BW Offshore Code of Ethics and Business Conduct (and the Guidelines); and any red flags that might indicate that use of the external party might have an adverse effect on BW Offshore’s reputation, as part of the Company’s ‘Supplier Qualification’ processes.
Our commitment to ‘Respect for the Individual, Human Rights and Ethical Employment Practices’ and our programme for Modern Slavery prevention is also reflected in the Qualification compliance assessment work.
The Corporate Integrity department performs the assessment of the vendors as part of the Qualification process, and may also request further information, perform in-person audits or mandate specific activities (such as certifications or trainings) to be completed by the supplier, as deemed necessary to manage the compliance risk the party might pose to BW Offshore. The company will not engage an external party if the compliance risk is deemed too high.
Visit the Vendor Information page for further information for Vendors.
