BW Offshore: New contemplated bond issue

BW Offshore Limitedis contemplating to issue a NOK 500-750millionsenior unsecured bond with maturity inMarch 2017. Theproceeds will be usedfor general corporate purposes.

DNB Markets, Nordea Markets, Pareto Securities and SEB Merchant Banking have been appointed as joint lead managersof the contemplated bond issue.

For further information, please contact:

Knut R. Sthre, CFO, +47 9111 7876

Kristian Flaten, Vice President IR and Corporate Finance, +47 9509 2322

About BW Offshore:

BW Offshore is a leading global provider of floating production services to the oil and gas industry. With the acquisition of Prosafe Production in 2010, the company has become the world`s second largest contractor with a fleet of 14 FPSOsand 2 FSOs represented in all major oil regions world-wide. BW Offshore has an excellent track record on project execution and operations, as well as a robust balance sheet and strong financial capabilities. In30 years of production, BW Offshore has successfully executed more than 30 FPSO and FSO projects. The company is listed on the Oslo Stock Exchange. Further information is also available on http://www.bwoffshore.com

The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein.

Source: BW Offshore via Thomson Reuters ONE HUG#1590559

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BW Offshore: New contemplated bond issue

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