All missing now recovered on Cidade de São Mateus

This statement is updated as of Tuesday 3 March 12:00 (local Brazilian time).

BW Offshore confirms that the remaining three missing crew have been recovered. With this, the total number of fatalities from this incident stands at nine. Two crew members remain in hospital, receiving medical attention and their condition is reported to be stable.

"The rescue efforts of the past several days have now ended and all our men are accounted for. There is finally closure for the families of those we have lost. There will be continued efforts to provide the necessary support to the crew and families whose lives have been changed forever by this tragedy", said Carl Arnet, CEO.

"We are grateful for the tireless support we have received from our client Petrobras and partners, as well as the local authorities. Our focus continues on getting to the root cause of the incident. We are also in discussions about reinstating the unit and finding continued employment for our crew", he added.

On Wednesday, February 11, 2015 at 12:50 local Brazilian time, an explosion occurred on Floating Production Storage and Offloading (FPSO) unit Cidade de São Mateus. The unit is operated for Petrobras by BW Offshore on the Camarupim and Camarupim Norte fields in Espirito Santo littoral approximately 120 km from the coast.

For further information, please contact:
Jon Harald Kilde, BW Offshore, +55 21 83 16 02 85
Torfinn Buarøy, BW Offshore, +47 91 66 02 52

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