BW Offshore: Contract extension for Petróleo Nautipa

BW Offshore has received a one-year contract extension for the lease and operation of the FPSO Petróleo Nautipa. The FPSO is operating on the Etame field offshore Gabon for VAALCO Energy.

The firm period has been extended to Q3 2021 (from Q3 2020), with options until Q3 2022.

For further information, please contact:

Ståle Andreassen, CFO

+65 97 27 86 47

IR@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 and gas regions world-wide with a fleet of 15 owned FPSOs. The company has more than 30 years of production track record, having executed 40 FPSO and FSO projects. BW Offshore is listed on the Oslo Stock Exchange. For more information, please visit www.bwoffshore.com

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