First oil produced by the BW Catcher FPSO

BW Offshore is pleased to announce that first oil from the Catcher FPSO was safely achieved on 23 December 2017.

The initial hydrocarbon volumes were produced following a very effective hook-up and commissioning period. The FPSO arrived at the Premier Oil-operated Catcher field offshore UK on 18 October, after sail-away from the Keppel Shipyard in Singapore in late August and a brief stopover at Nigg.

"The Catcher development project is nearing completion on time and well within budget. We are very pleased with the effective hook-up and commissioning, which reflects extensive preparations through-out the construction phase and a well-planned offshore installation program," said Carl K. Arnet, the CEO of BW Offshore.

BW Catcher is owned and operated by BW Offshore and will commence a seven-year fixed term contract, with extension options of up to 18 years. The Catcher field partnership is made up of Premier Oil (50%), Cairn Energy (20%), MOL Group (20%) and Dyas (10%). The unit has an oil storage capacity of 650,000 barrels and a processing capacity of up to 60,000 barrels per day. The FPSO has a design life of 20 years of uninterrupted operations.

For further information, please contact:

Knut R. Sæthre, CFO, +47 911 17 876

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 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 38 FPSO and FSO projects. The company is listed on the Oslo Stock Exchange. Further information is available on www.bwoffshore.com.