Petroleo Nautipa transaction completed

Reference is made to BW Offshore's announcements dated 9 July 2014 and 24 July 2014.

BW Offshore has today completed the sale and purchase agreement with Yinson to take 100% ownership of the FPSO Petroleo Nautipa.

Petroleo Nautipa is operating for Vaalco Energy in Gabon under a firm charter contract until Q3 2020, with options for additional two years.

For further information, please contact:
Kristian Flaten, Vice President IR and Corporate Finance, +47 9509 2322

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 1 FSO represented in all major oil regions world-wide. The company also operates additional 2 FPSOs. BW Offshore has a long track record on project execution and operations, as well as a robust balance sheet and strong financial capabilities. In more than 30 years of operation, BW Offshore has executed 38 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 pursuant to section 5-12 of the Norwegian Securities Trading Act.