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Extension agreement for FPSO Abo

With reference to the stock exchange release dated 23 January 2017.

BW Offshore has today signed an extension agreement for the lease and operation of the FPSO Abo with Nigerian Agip Exploration Ltd, a subsidiary of ENI S.p.A., until 31 March 2018 with options until 2023.

For further information, please contact:

Knut R. Sæthre, CFO, +47 9111 7876

IR@bwoffshore.com or www.bwoffshore.com

About BW Offshore:

BW Offshore is a leading global provider of floating production services to the oil and gas industry. BW Offshore has a fleet of 14 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 38 FPSO and FSO projects. The company is listed on the Oslo Stock Exchange.

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

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