Update on the Catcher development

The BW Catcher Floating Production Storage and Offloading ("FPSO") vessel arrived at the Catcher field at on Wednesday 18 October. The hook up of the Submerged Turret Production ("STP") buoy mooring system was completed on 19 October with the vessel successfully completing a rotation test around the buoy on 20 October. The final pull-in of the risers and umbilicals is now underway and commissioning activities have also commenced in parallel. Delivery of first oil remains on schedule by the end of the year.

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.

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