First oil on BW Athena

The FPSO BW Athena has received first oil on the Athena field offshore UK. The final acceptance tests have successfully been completed, and the firm contract period has commenced.

BW Offshore has a three year firm contract with Ithaca Energy and partners, with options for additional five years.

The partners in the Athena field are: Ithaca Energy (22.5%, operator), Dyas UK (47.5%), EWE Energie (20.0%) and Zeus Petroleum (10.0%).

For further information, please contact:

Knut R. Sæthre, CFO, +47 9111 7876 (Media)

Kristian Flaten, Vice President IR and Corporate Finance, +47 9509 2322 (Investors/analysts)

About BW Offshore:

BW Offshore is a leading global provider of floating production services to the oil and gas industry. BW Offshore is the world's second largest contractor with a fleet of 14 FPSOs and 2 FSOs represented in all major oil regions world-wide. BW Offshore has an excellent track record on project execution and operations, as well as a robust balance sheet and strong financial capabilities. In 30 years of production, BW Offshore has successfully executed more than 30 FPSO and FSO projects. The company is listed on the Oslo Stock Exchange. Further information is also available on www.bwoffshore.com

This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)