BW Offshore - 500 Beiträge pro Seite

[R-BgO]

...neben SBM der führende FPSO-Betreiber.


Hatte mich über den Chart gewundert, das hier erklärt's:


BW OFFSHORE: CHANGE OF ISIN IN CONNECTION WITH REVERSE SHARE SPLIT

Reference is made to the announcement from BW Offshore Limited (the "Company") dated 28 November 2016, regarding the 50:1 reverse share split of the Company's common shares ("Reverse Share Split").

The Company's shares trading under the symbol "BMG1190N1002" will assume the new ISIN BMG1738J1247 as consolidated on the Oslo Stock Exchange from and including 2 December 2016.

[R-BgO]

Ansichtsstücke geholt

[R-BgO]

2017 mit Gewinn abgeschlossen

[R-BgO]

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BW Offshore: Subscription of Shares in Subsidiary by CEO
GlobeNewswire•March 11, 2019

Carl Arnet ("CA"), CEO of BW Offshore Limited ("BWO" or the "Company"), has today become the holder of 1% shares in BW Energy Holdings Pte. Ltd. ("BWEH"), the joint venture company formed in 2016 by the Company and BW Group Limited ("BW Group") for the purpose of pursuing oil and gas interests. The new shares in BWEH were allotted to CA for a total consideration of USD 1.85 million, including a pro rata share of shareholder loans. Following this transaction, the shareholders of BWEH are: the Company (66%), BW Group (33%) and CA (1%). Similar to the other shareholders in BWEH, CA will be obliged to provide continued funding in respect of BWEH`s business and development costs for its projects, whether through equity or shareholder loans. BW Energy holds the license to the Dussafu field offshore Gabon.

"Carl Arnet was instrumental in generating this strategy shift for BWO and we are pleased that he will be directly financially committed and aligned with the shareholders for the profitable development of this entity", said BWO Chairman Andreas Sohmen-Pao.

For further information, please contact:
Knut R. Sæthre, CFO, [phone]

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.

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BW Offshore: Acquisition of 30% stake in the Maromba field offshore Brazil
With reference to the stock exchange release dated 8 March 2019.
BW Offshore has entered into an agreement to acquire the remaining 30% of the
Maromba field offshore Brazil for a total acquisition cost of USD 25 million
from Chevron. Closing of the acquisition is subject to 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 acquisition price will be paid over three milestones. The first milestone of
USD 10 million is due on receipt of ANP approval as operator and formal sanction
of the transaction, expected in the second half of 2019. The second milestone of
USD 5 million is due at start of drilling activities and the third part-payment,
representing the remaining USD 10 million, after achieving cumulative production
of 250,000 barrels of oil from the area.

The Company will proceed to finalise the Plan of Development (PoD) for approval
by The Brazilian National Agency of Petroleum, Natural Gas and Biofuels (ANP).


For further information, please contact:
Knut R. Sæthre, CFO, [phone]

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.

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[R-BgO]

Antwort auf Beitrag Nr.: 60.402.741 von R-BgO am 23.04.19 11:40:44

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Half-year and second quarter results 2019

HIGHLIGHTS

EBITDA of USD 378.4 million in the first half-year and USD 191.6 million in Q2
Approved as operator by ANP in Brazil
Gross production from Tortue of 1.1 million bbls in Q2
One lifting completed in Q2, 615k bbls net to BW Energy
Full-year production forecast increased to 4.1 - 4.4 million barrels of oil
Contract extensions for BW Cidade de São Vicente and Petróleo Nautipa
Announced listing of BW Energy


Operating revenues for the first half-year of 2019 amounted to USD 582.4 million, an increase of USD 189.7 million (USD 392.7 million). EBITDA for the period was USD 378.4 million (USD 213.9 million). EBITDA for the second quarter of 2019 was USD 191.6 million, an increase from USD 186.8 million in the previous quarter.

The record EBITDA for both periods reflects high uptime for the FPSO fleet and a strong performance from BW Catcher under the excess production scheme and the full contribution from BW Adolo. The Dussafu licence have continued to produce above expectations and the 2019 full-year production forecast has been lifted to 4.1 - 4.4 million barrels of oil. The Hibiscus exploration well was spudded in early August. The main well bore has been completed and hydrocarbons encountered. Well logging is ongoing together with planning for drilling of a side-track.

"We are very pleased to report another strong quarter and record EBITDA which reflects the full impact of the successful FPSO and field development investments we have made through BW Catcher, BW Adolo and the Tortue development on Dussafu. They are now fully operational and create significant cash flow and long-term value for our shareholders,” said Marco Beenen, the CEO of BW Offshore.

“Tortue phase 1 has been a success producing above original guidance and we recently received an independent report confirming increased reserves. We have proven the attractiveness of our phased field development strategy with redeployment of our own FPSOs, reducing time to first oil and enabling us to capture further upsides in the subsequent development phases. We are ready to replicate this success in the future development phases of the Dussafu and Maromba licenses,” Marco Beenen said.

Please see attachments for the Half-Year Report and Presentation. The Earnings Tables are available at: www.bwoffshore.com/ir

BW Offshore will host a presentation of the financial results 09:00 (CEST) today at Hotel Continental in Oslo, Norway. The presentation will be given by CEO Marco Beenen and CFO Ståle Andreassen.

The presentation will be broadcasted via webcast and will also be available for replay. Please visit www.bwoffshore.com for details.

For further information, please contact:

Ståle Andreassen, CFO, [phone]
Anders S. Platou, Head of Corporate Finance, [phone]

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BW Offshore: Hibiscus reserve estimates raised after successful completion of drilling operations
Hibiscus reserve estimates raised after successful completion of drilling
operations

BW Offshore is pleased to announce the successful completion of drilling
operations on the Hibiscus Updip prospect in the Dussafu license. Both the
exploration well and appraisal side-track encountered oil on the Hibiscus
structure.

The DHIBM-1 exploration well was drilled by the Borr Norve jack-up drilling rig
to a total depth of 3,538 meters in water depths of 116 meters. Evaluation of
logging and sampling data has confirmed that the well has encountered
approximately 21 meters of pay in an overall hydrocarbon column of 33 meters in
the Gamba formation. The appraisal side-track (DHIBM-1 ST1), drilled 1,100
meters north-west of the original wellbore, encountered 26 meters of pay in the
Gamba formation. The oil-water contact was at the same level in both wells,
confirming continuity of the hydrocarbon deposit.

Preliminary evaluation indicates gross recoverable reserves of 40 to 50 million
bbls of oil, significantly greater than the pre-drill expectations.

"Hibiscus is the fourth consecutive oil discovery made on the Dussafu license
with drilling operations completed safely and within budget," said Carl K. Arnet
CEO of BW Energy. "It is in line with our phased development strategy for long-
term value creation at Dussafu through increased production and identifying
additional resources. The Hibiscus discovery and its surrounding prospects
represent another area of significant potential in the Dussafu block and we are
looking forward to the next phase of the programme as we continue to unlock the
potential of the Dussafu field."

The DHIBM-1 well was designed to appraise one of several prospects that have
been mapped in the greater Ruche area of the Dussafu license. The objective was
to identify additional resources, which will be aggregated with the existing
Ruche discovery and form the basis for future development. The company will
complete the evaluation of the Hibiscus Updip discovery and evaluate the optimal
commercial development.

The rig will now proceed to drill four subsea production wells on the Tortue
field which will be tied back to BW Adolo, before drilling another exploration
well.

For further information, please contact:

Knut R. Sæthre, CFO BW Energy, [phone]
Ståle Andreassen, CFO BW Offshore, [phone]

[e-mail] (mailto:[e-mail])

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.

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https://www.bwoffshore.com/globalassets/documents/reports-an…

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BW Offshore: BW Energy completes second production well of the Tortue Phase 2 development
NOT FOR DISTRIBUTION OR RELEASE, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN
OR INTO THE UNITED STATES OF AMERICA (INCLUDING ITS TERRITORIES AND POSSESSIONS,
ANY STATE OF THE UNITED STATES OF AMERICA AND THE DISTRICT OF COLUMBIA) (THE
"UNITED STATES"), AUSTRALIA, CANADA, THE HONG KONG SPECIAL ADMINISTRATIVE REGION
OF THE PEOPLE'S REPUBLIC OF CHINA OR JAPAN, OR ANY OTHER JURISDICTION IN WHICH
THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL.

BW Energy completes second production well of the Tortue Phase 2 development

BW Energy (the "Company" or "BWE" on OSE ticker: "BWO") is pleased to announce
the successful completion of the second production well of the Tortue Phase 2
development. The DTM-5H well marks the completion of the first of two new well
clusters on the Tortue field which will be tied back to the FPSO BW Adolo and
boost oil output.

First production from the completed cluster, consisting of the DTM-4H and DTM-
5H production wells, is planned for March 2020. The second cluster, also
consisting of two wells, is expected to be in production by June 2020. The
Tortue development will upon completion of Phase 2 have six wells producing an
estimated total of 17.3 - 21.6 kbopd gross for 2020, compared with 11.8 kbopd
gross on average produced in 2019.

"We are pleased to be on plan and budget for the completion of our current well
program. This will give us a substantial increase in production over the coming
two quarters", said Carl K. Arnet, CEO of BW Energy.

DTM-5H was drilled with the Borr Norve jackup rig in 116 meters of water depth
as a horizontal production well in the Gamba reservoir. A long horizontal
section of good quality oil-saturated Gamba sands was penetrated and completed
and the subsea tree installed ready for hook up. The rig has now moved on
location and spud the DTM-6H, and will drill the fifth and sixth development
wells in the Tortue field.

For further information, please contact:
CFO BW Energy - Knut Sæthre: [phone]
CFO BW Offshore - Ståle Andreassen: [phone]

[e-mail]

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BW Offshore: BW Energy Limited - Allocation of Shares to Primary Insiders
NOT FOR DISTRIBUTION OR RELEASE, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN
OR INTO THE UNITED STATES OF AMERICA (INCLUDING ITS TERRITORIES AND POSSESSIONS,
ANY STATE OF THE UNITED STATES OF AMERICA AND THE DISTRICT OF COLUMBIA) (THE
"UNITED STATES"), AUSTRALIA, CANADA, THE HONG KONG SPECIAL ADMINISTRATIVE REGION
OF THE PEOPLE'S REPUBLIC OF CHINA OR JAPAN, OR ANY OTHER JURISDICTION IN WHICH
THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL.

BW ENERGY LIMITED: ALLOCATION OF SHARES TO PRIMARY INSIDERS

18 February 2020

Reference is made to the announcements on 17 February 2020, whereby BW Energy
Limited ("BW Energy", OSE ticker code "BWE") and BW Offshore Limited ("BW
Offshore", OSE ticker "BWO") announced the successful completion of the initial
public offering of BW Energy's shares (the "IPO" or the "Offering") and the
listing of BW Energy shares on the Oslo Stock Exchange (the "Listing").

The following primary insiders of BW Energy and BW Offshore have been allocated
shares in the Company ("Shares") in the Offering in accordance with the terms
set out in the prospectus dated 29 January 2020 and the supplementary prospectus
dated 13 February 2020:

* Carl K. Arnet, BWE CEO, has been allocated 204,918 Shares in the Offering
and 471,369 Shares as dividends from BW Offshore, increasing his holding of
Shares at the time of Listing to a total of 2,406,288 Shares. In addition,
close associates of Carl K. Arnet will receive 16,324 Shares as dividend
from BW Offshore.
* Knut R. Sæthre, BWE CFO, has been allocated 81,967 Shares in the Offering
and 25,507 Shares as dividends from BW Offshore, and his holding at the time
of listing will be 107,474 Shares.
* Lin G. Espey, BWE COO, has been allocated 20,491 Shares, which will be his
holding following the completion of the Offering.
* Anders S. Platou, BWO Head of Corporate Finance, has been allocated 20,491
Shares, which will be his holding following the completion of the Offering.
* Marco Beenen, BWO CEO and BWE board member, has been allocated 20,491 Shares
and 8,459 Shares as dividends from BW Offshore, and his holding at the time
of listing will be 28,950 Shares.
* Maarten R. Scholten, BWO board member, has been allocated 37,909 Shares and
32,804 Shares as dividends from BW Offshore, and his holding at the time of
listing will be 70,713 Shares.
* Ståle Andreassen, BWO CFO, has been allocated 20,491 Shares and 46,784
Shares as dividends from BW Offshore, and his holding at the time of listing
will be 67,275 Shares.
* Kei Ikeda, BWO COO, has been allocated 20,491 Shares and 2,428 Shares as
dividends from BW Offshore, and his holding at the time of listing will be
22,919 Shares.
* Magda Vakil, BWO General Counsel, has been allocated 8,196 Shares and 2,531
Shares as dividends from BW Offshore, and her holding at the time of listing
will be 10,727 Shares. In addition, close associates of Magda Vakil will
receive 495 Shares as dividend from BW Offshore.
* Hans Kristian Langsrud, BWO Head of Asset Engineering & Maintenance, has
been allocated 8,196 Shares, which will be his holding following the
completion of the Offering.
* Rune Bjorbekk, BWO CCO, has been allocated 8,196 Shares and 31,250 Shares as
dividends from BW Offshore, and his holding at the time of listing will be
39,446 Shares.
* BW Group Limited, a major shareholder in BW Energy and BW Offshore, and
represented on the board of directors of both companies, has been allocated
6,378,971 Shares in the Offering and 18,841,067 Shares as dividends from BW
Offshore, thereby increasing its holding of Shares at the time of Listing to
a total of 82,310,071 Shares (35.13%).
* BW Offshore, a major shareholder represented on the board of BW Energy,
holds approximately 90,839,066 Shares (38.77%) following the Offering and
distribution of dividends.

DNB Markets, a part of DNB Bank ASA and Pareto Securities AS are acting as joint
global coordinators and joint bookrunners in the Offering (the "Joint Global
Coordinators"). Arctic Securities AS, Danske Bank (Norwegian Branch), Nordea
Bank Abp (filial i Norge) and Swedbank AB (publ) (in cooperation with Kepler
Cheuvreux) are acting as co-managers (the "Co-Managers", and together with the
Joint Global Coordinators, the "Managers").

Advokatfirmaet Thommessen AS is acting as Norwegian legal counsel to the
Company, whilst Conyers Dill & Pearman Limited is acting as special Bermuda
legal counsel to the Company. Advokatfirmaet Schjødt AS is acting as Norwegian
legal counsel to the Managers.

* * *
For further information, please contact:

Knut Sæthre, CFO BW Energy
[phone]
[e-mail]

About BW Energy

BW Energy is a growth E&P company with a differentiated strategy targeting
proven offshore oil and gas reservoirs through low risk phased developments. The
Company has access to existing FPSOs to reduce time to first oil and cash-flow
with lower investments than traditional offshore developments. The main assets
are 73.5% of the producing Dussafu Marine Permit offshore Gabon and a 95%
interest in the Maromba field in Brazil, both operated by the Company. Total net
2P+2C reserves are 247 million barrels at the start of 2020 and gross average
production from Dussafu was 11,779 bbl/day in 2019.

Not for distribution in or into the United States, Australia, Canada, the Hong
Kong Special Administrative Region of the People's Republic of China or Japan.

Important notice

These materials do not constitute or form a part of any offer of securities for
sale or a solicitation of an offer to purchase securities of the Company in the
United States or any other jurisdiction. The securities of the Company may not
be offered or sold in the United States absent registration or an exemption from
registration under the U.S. Securities Act of 1933, as amended (the "U.S.
Securities Act"). The securities of the Company have not been, and will not be,
registered under the U.S. Securities Act. Any sale in the United States of the
securities mentioned in this communication will be made solely to "qualified
institutional buyers" as defined in Rule 144A under the U.S. Securities Act. No
public offering of the securities will be made in the United States.

In any EEA Member State, this communication is only addressed to and is only
directed at qualified investors in that Member State within the meaning of the
EU Prospectus Regulation, i.e., only to investors who can receive the offer
without an approved prospectus in such EEA Member State. The expression "EU
Prospectus Regulation" means Regulation (EU) 2017/1129 of the European
Parliament and of the Council of 14 June 2017 (together with any applicable
implementing measures in any Member State).

In the United Kingdom, this communication is only addressed to and is only
directed at Qualified Investors who (i) are investment professionals falling
within Article 19(5) of the Financial Services and Markets Act 2000 (Financial
Promotion) Order 2005 (as amended) (the "Order") or (ii) are persons falling
within Article 49(2)(a) to (d) of the Order (high net worth companies,
unincorporated associations, etc.) (all such persons together being referred to
as "Relevant Persons"). These materials are directed only at Relevant Persons
and must not be acted on or relied on by persons who are not Relevant Persons.
Any investment or investment activity to which this announcement relates is
available only to Relevant Persons and will be engaged in only with Relevant
Persons. Persons distributing this communication must satisfy themselves that it
is lawful to do so.

The Target Market Assessment is without prejudice to the requirements of any
contractual, legal or regulatory selling restrictions in relation to the
Transaction.

For the avoidance of doubt, the Target Market Assessment does not constitute:
(a) an assessment of suitability or appropriateness for the purposes of MiFID
II; or (b) a recommendation to any investor or group of investors to invest in,
or purchase, or take any other action whatsoever with respect to the Company's
shares.

Each distributor is responsible for undertaking its own Target Market Assessment
in respect of the Company's shares and determining appropriate distribution
channels.

Matters discussed in this announcement may constitute forward-looking
statements. Forward-looking statements are statements that are not historical
facts and may be identified by words such as "anticipate", "believe",
"continue", "estimate", "expect", "intends", "may", "should", "will" and similar
expressions. The forward-looking statements in this release are based upon
various assumptions, many of which are based, in turn, upon further assumptions.
Although the Company believes that these assumptions were reasonable when made,
these assumptions are inherently subject to significant known and unknown risks,
uncertainties, contingencies and other important factors which are difficult or
impossible to predict and are beyond its control. Such risks, uncertainties,
contingencies and other important factors could cause actual events to differ
materially from the expectations expressed or implied in this release by such
forward-looking statements. The information, opinions and forward-looking
statements contained in this announcement speak only as at its date, and are
subject to change without notice.

This announcement is made by and, and is the responsibility of, the Company. The
Managers are acting exclusively for the Company and no one else and will not be
responsible to anyone other than the Company for providing the protections
afforded to their respective clients, or for advice in relation to the contents
of this announcement or any of the matters referred to herein.

Neither the Managers nor any of their respective affiliates makes any
representation as to the accuracy or completeness of this announcement and none
of them accepts any responsibility for the contents of this announcement or any
matters referred to herein.

This announcement is for information purposes only and is not to be relied upon
in substitution for the exercise of independent judgment. It is not intended as
investment advice and under no circumstances is it to be used or considered as
an offer to sell, or a solicitation of an offer to buy any securities or a
recommendation to buy or sell any securities of the Company. Neither the
Managers nor any of their respective affiliates accepts any liability arising
from the use of this announcement.

Each of the Company, the Managers and their respective affiliates expressly
disclaims any obligation or undertaking to update, review or revise any
statement contained in this announcement whether as a result of new information,
future developments or otherwise.

The distribution of this announcement and other information may be restricted by
law in certain jurisdictions. Persons into whose possession this announcement or
such other information should come are required to inform themselves about and
to observe any such restrictions.

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BW Offshore: Dividend Information - Trading ex Dividend
NOT FOR DISTRIBUTION OR RELEASE, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN
OR INTO THE UNITED STATES OF AMERICA (INCLUDING ITS TERRITORIES AND POSSESSIONS,
ANY STATE OF THE UNITED STATES OF AMERICA AND THE DISTRICT OF COLUMBIA) (THE
"UNITED STATES"), AUSTRALIA, CANADA, THE HONG KONG SPECIAL ADMINISTRATIVE REGION
OF THE PEOPLE'S REPUBLIC OF CHINA OR JAPAN, OR ANY OTHER JURISDICTION IN WHICH
THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL.

DIVIDEND INFORMATION - TRADING EX DIVIDEND

18 February 2020

Reference is made to the announcement on 4 February 2020, whereby BW Offshore
Limited ("BW Offshore", OSE ticker "BWO") announced information relating to a
contemplated dividend payment consisting of shares in BW Energy Limited.

The board of directors of BW Offshore has on 17 February 2020 resolved to
distribute shares in BW Energy (the "Dividend Shares") of a total value of
approximately NOK 921 million (the "BW Offshore Dividend Distribution"),
corresponding to approximately 37,741,000 shares in BW Energy Limited at the
offer price per share of NOK 24.40 set in the initial public offering of shares
in BW Energy Limited. The dividend per BW Offshore share amounts to
0.20405596845785 Dividend Shares, however so that the number of Dividend Shares
distributed to each shareholder is rounded down to avoid fractional shares.

The Dividend Shares will be visible in the VPS on 20 February 2020 for the BW
Offshore shareholders as of 17 February 2020 (as registered in the VPS on the
record date (19 February 2020). Delivery will be made to the VPS account on
which the respective BW Offshore shareholders held their shares in BW Offshore.
Shareholders who wish sell Dividend Shares on 19 February 2020 should contact
their broker as the Dividend Shares will not be visible on their respective VPS
accounts before 20 February 2020.

The shares in BW Offshore will trade ex dividend from today, 18 February 2020.

* * *

For further information, please contact:
Ståle Andreassen, CFO, [phone]
Anders S. Platou, Head of Corporate Finance, [phone]

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.

Not for distribution in or into the United States, Australia, Canada, the Hong
Kong Special Administrative Region of the People's Republic of China or Japan.

Important notice

These materials do not constitute or form a part of any offer of securities for
sale or a solicitation of an offer to purchase securities of the Company in the
United States or any other jurisdiction. The securities of the Company may not
be offered or sold in the United States absent registration or an exemption from
registration under the U.S. Securities Act of 1933, as amended (the "U.S.
Securities Act"). The securities of the Company have not been, and will not be,
registered under the U.S. Securities Act. Any sale in the United States of the
securities mentioned in this communication will be made solely to "qualified
institutional buyers" as defined in Rule 144A under the U.S. Securities Act. No
public offering of the securities will be made in the United States.

In any EEA Member State, this communication is only addressed to and is only
directed at qualified investors in that Member State within the meaning of the
EU Prospectus Regulation, i.e., only to investors who can receive the offer
without an approved prospectus in such EEA Member State. The expression "EU
Prospectus Regulation" means Regulation (EU) 2017/1129 of the European
Parliament and of the Council of 14 June 2017 (together with any applicable
implementing measures in any Member State).

In the United Kingdom, this communication is only addressed to and is only
directed at Qualified Investors who (i) are investment professionals falling
within Article 19(5) of the Financial Services and Markets Act 2000 (Financial
Promotion) Order 2005 (as amended) (the "Order") or (ii) are persons falling
within Article 49(2)(a) to (d) of the Order (high net worth companies,
unincorporated associations, etc.) (all such persons together being referred to
as "Relevant Persons"). These materials are directed only at Relevant Persons
and must not be acted on or relied on by persons who are not Relevant Persons.
Any investment or investment activity to which this announcement relates is
available only to Relevant Persons and will be engaged in only with Relevant
Persons. Persons distributing this communication must satisfy themselves that it
is lawful to do so.

The Target Market Assessment is without prejudice to the requirements of any
contractual, legal or regulatory selling restrictions in relation to the
Transaction.

For the avoidance of doubt, the Target Market Assessment does not constitute:
(a) an assessment of suitability or appropriateness for the purposes of MiFID
II; or (b) a recommendation to any investor or group of investors to invest in,
or purchase, or take any other action whatsoever with respect to the Company's
shares.

Each distributor is responsible for undertaking its own Target Market Assessment
in respect of the Company's shares and determining appropriate distribution
channels.

Matters discussed in this announcement may constitute forward-looking
statements. Forward-looking statements are statements that are not historical
facts and may be identified by words such as "anticipate", "believe",
"continue", "estimate", "expect", "intends", "may", "should", "will" and similar
expressions. The forward-looking statements in this release are based upon
various assumptions, many of which are based, in turn, upon further assumptions.
Although the Company believes that these assumptions were reasonable when made,
these assumptions are inherently subject to significant known and unknown risks,
uncertainties, contingencies and other important factors which are difficult or
impossible to predict and are beyond its control. Such risks, uncertainties,
contingencies and other important factors could cause actual events to differ
materially from the expectations expressed or implied in this release by such
forward-looking statements. The information, opinions and forward-looking
statements contained in this announcement speak only as at its date, and are
subject to change without notice.

This announcement is made by and, and is the responsibility of, the Company. The
Managers are acting exclusively for the Company and no one else and will not be
responsible to anyone other than the Company for providing the protections
afforded to their respective clients, or for advice in relation to the contents
of this announcement or any of the matters referred to herein.

Neither the Managers nor any of their respective affiliates makes any
representation as to the accuracy or completeness of this announcement and none
of them accepts any responsibility for the contents of this announcement or any
matters referred to herein.

This announcement is for information purposes only and is not to be relied upon
in substitution for the exercise of independent judgment. It is not intended as
investment advice and under no circumstances is it to be used or considered as
an offer to sell, or a solicitation of an offer to buy any securities or a
recommendation to buy or sell any securities of the Company. Neither the
Managers nor any of their respective affiliates accepts any liability arising
from the use of this announcement.

Each of the Company, the Managers and their respective affiliates expressly
disclaims any obligation or undertaking to update, review or revise any
statement contained in this announcement whether as a result of new information,
future developments or otherwise.

The distribution of this announcement and other information may be restricted by
law in certain jurisdictions. Persons into whose possession this announcement or
such other information should come are required to inform themselves about and
to observe any such restrictions.

[chonz]

BW Offshore: Second Quarter and First Half 2020 Results
HIGHLIGHTS SECOND QUARTER

* EBITDA of USD 116.2 million in Q2
* Safeguarding people, operations and partners throughout the Covid-19
pandemic
* Extensions for Petróleo Nautipa and BW Cidade de São Vicente
* Completed USD 10 million share buy-back programme
* Quarterly dividend payments introduced of USD 0.034 per share
* Equity ratio of 35.8% and USD 388.5 million in total liquidity as at 30 June



EBITDA for the second quarter of 2020 was USD 116.2 million, a decrease from USD
129.9 million in the previous quarter. EBITDA for the first half of 2020
amounted to USD 246.1 million, a decrease of USD 45.8 million (from USD 291.9
million) from in the same period of 2019.

The EBITDA for both periods reflects continued high uptime for the FPSO fleet,
mainly offset by the end of the contract for Umuroa in December 2019 and reduced
revenue related to variation orders compared to the same period 2019.

"We have maintained high operational uptime through a challenging period due to
good risk management, planning and procedures to protect our people, operations
and partners," said Marco Beenen, the CEO of BW Offshore. "We deliver a stable
financial performance and a robust balance sheet with the flexibility to
distribute a sustainable quarterly dividend to shareholders and selectively
progress new long-term business opportunities with solid counterparties."

On 28 May, BW Offshore completed the USD 10 million share buy-back programme
announced 31 March. At 30 June, the Company held a total of 4,156,534 treasury
shares. On 10 June, BW Offshore paid a cash dividend of USD 0.034 per share to
all shareholders on record as at 3 June 2020.

The Board of Directors has declared a further cash dividend of USD 0.034 per
share. Shares will trade ex-dividend from and including 3 September 2020.
Shareholders recorded in VPS following the close of trading on Oslo Børs on 4
September 2020 will be entitled to the distribution payable on or around 11
September 2020.

Please see attachments for the Half-Year Report and Presentation. The earnings
tables are available at: https://bwoffshore.com/ir/quarterly-results/

BW Offshore will host a conference call of the financial results 14:00 (CEST)
today. The presentation will be given by CEO Marco Beenen and CFO Ståle
Andreassen.

Conference call information:

To dial in to the conference call where the first half year and second quarter
results and Q&A will be hosted, please dial one of the following numbers:

Norway: [phone]
Singapore: [phone]
United Kingdom: [phone]
United States: Toll-Free: [phone]

You can also follow the presentation via webcast with supporting slides,
available on:

https://bwo.eventcdn.net/2020q2/ (https://bwo.eventcdn.net/2020q2/register/)

Please note, that if you follow the webcast via the above URL, you will
experience a 30 second delay compared to the main conference call.

For further information, please contact:
Ståle Andreassen, CFO, [phone]
Anders S. Platou, Head of Corporate Finance, [phone]

[e-mail] (mailto:[e-mail]) or www.bwoffshore.com
(http://www.bwoffshore.com)

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 35
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.