Petrobras declares FPSO Cidade de São Mateus option

BW Offshore has received notice from Petrobras of the exercise of a one-year extension of the contracts relating to the FPSO Cidade de São Mateus.

BW Offshore will continue its dialogue with the client towards finalising a firm plan for the FPSO. The FPSO Cidade de São Mateus remains in lay-up.

For further information, please contact:

Knut R. Sæthre, CFO, +47 9111 7876

About BW Offshore:

BW Offshore is a leading global provider of floating production services to the oil and gas industry. The Company has a fleet of 15 owned FPSOs and one FSO represented in all major oil & gas regions world-wide. BW Offshore has a long track record on project execution and operations. In more than 30 years of production, BW Offshore has executed 39 FPSO and FSO projects. The company is listed on the Oslo Stock Exchange. Further information is available on www.bwoffshore.com.

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