Release details

2019-03-04 07:30 CET
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BW OFFSHORE: CONTEMPLATING FIELD ACQUISITION OFFSHORE BRAZIL

BW Offshore is contemplating to enter into agreements to acquire 100% of the Maromba field offshore Brazil from the present owners Petrobras (70%) and Chevron (30%).

Closing of the acquisition is subject to board approvals and fulfilment or waiver of conditions precedents, including approval by The Brazilian National Agency of Petroleum, Natural Gas and Biofuels (ANP) to close the transaction and deem BW Offshore an approved operator in Brazil.

The Maromba field is located off the Brazilian coast in the Campos Basin in 160 metres of water depth, where BW Offshore has extensive operating experience.

The company will provide further information upon signing of the agreements.

For further information, please contact:

Knut R. Sæthre, CFO, +47 911 17 876

About BW Offshore:

BW Offshore is a leading provider of floating production services to the oil and gas industry. The company also participates in developing proven offshore hydrocarbon reservoirs. BW Offshore is represented in all major oil and gas regions world-wide with a fleet of 15 owned FPSOs. The company has more than 30 years of production track record, having executed 40 FPSO and FSO projects. BW Offshore is listed on the Oslo Stock Exchange.

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

HUG#2237119