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BW Offshore: BW Catcher commenced transit to the North Sea

by August 26, 2017 General

BW  Offshore is pleased  to announce the  sail away of  the FPSO BW Catcher. The
vessel  has left Keppel Shipyard in Singapore and is currently in transit to the
Catcher field in the central North Sea.

BW Catcher is expected to reach UK waters early in the fourth quarter, depending
on  prevailing weather conditions. Upon its  arrival, BW Catcher will commence a
seven-year  fixed term contract, with extension  options of up to 18 years, with
Premier  Oil. Based on a field life of  10 years, the contract value is USD 2.3
billion including FPSO charter rate and opex.

"The  BW  Catcher  has  been  completed  on  time  and within budget, and we are
especially  pleased  with  the  good  HSE  performance  during  the construction
project. We have worked over 11 million man hours without a lost time injury and
in  total around 19 million man hours. The FPSO is now underway to the North Sea
for hook-up at the Catcher field, and with first oil scheduled later this year,"
said Carl K. Arnet, the CEO of BW Offshore.

BW  Catcher  has  an  oil  storage  capacity of 650,000 barrels and a processing
capacity  of 60,000 barrels per day.  The FPSO has a  design life of 20 years of
uninterrupted operations, and will be moored using a Submerged Turret Production

For further information, please contact:

Knut R. Sæthre, CFO, +47 911 17 876 or

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 14 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.

This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: BW Offshore via GlobeNewswire


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