BW Offshore: Extension agreement for Cidade de São Vicente

BW Offshore has received a notice from Petrobras that they exercise their right to extend the lease and operation agreement of BW Cidade de São Vicente with 48 days. With this the contract will expire on 11 June 2020.

BW Offshore has commenced planning for demobilisation of the unit from the field and is considering temporary lay up in Brazil.

BW Cidade de São Vicente commenced operation for Petrobras in 2009 and has been utilised as a well test facility for the client on multiple locations offshore Brazil.

For further information, please contact:
Ståle Andreassen, CFO, +65 97 27 86 47
Anders S. Platou, Head of Corporate Finance, +47 99 50 47 40

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 and gas regions world-wide with a fleet of 15 owned FPSOs. The company has more than 35 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