BW Offshore: Management Changes at BW Offshore

BW Offshore ("BWO" or the "Company") is pleased to announce the following changes to its Executive Management team, effective immediately.

Marco Beenen assumes the position of Chief Executive Officer (CEO) of BW Offshore. Beenen has served as the Chief Operation Officer (COO) of the Company since 2016.

Ståle Andreassen assumes the position of Chief Financial Officer (CFO) of BW Offshore. Andreassen has served as Senior Vice President Finance of the Company since 2008.

Kei Ikeda assumes the position of Chief Operating Officer (COO) of BW Offshore. Ikeda has served as Head of Projects of the Company since 2016.

Also, with immediate effect, former CEO and CFO of BW Offshore, Carl K. Arnet and Knut R. Sæthre respectively, assume the positions of CEO and CFO of BW Energy Ltd., the Exploration and Production subsidiary of BWO.

Chairman of the BW Offshore Board, Andreas Sohmen-Pao, says: "The Board and I thank Carl and Knut for their outstanding contributions as CEO and CFO of BW Offshore during their decade-long tenure. We look forward to their continued leadership at BW Energy during an exciting time of change. We also congratulate Marco, Ståle and Ikeda on their new appointments. We are confident they are the ideal candidates to lead BW Offshore into the next phase of growth".

The management changes were initially announced in a press release dated 23 May 2019. Please visit the Company web page for details on the Executive Management team and their backgrounds.

 

For further information, please contact:

Ståle Andreassen, CFO

+65 97 27 86 47

IR@bwoffshore.com

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 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.

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