BW Offshore: Company presentation providing an update on the Oil & Gas segment

BW Offshore is today hosting a presentation focusing on the company's Gabon/Dussafu license field development activities, particularly giving details of progress in bringing on-stream the Tortue Field. The presentation is attached.

The presentation also contains new preliminary reserve estimates for Tortue from independent reserves auditors Netherland, Sewell & Associates Inc. (NSAI) from December 2017.

NSAI has calculated the following estimates of total gross economically recoverable oil reserves, derived from the assumed production from four oil wells in the Tortue field:

            *Proved (1P) reserves of 15.9 million bbls
            *Proved + Probable (2P) reserves of 23.5 million bbls
            *Proved + Probable + Possible (3P) reserves of 31.4 million bbls

The NSAI reserves review does not include the other 3 discovered fields in the license, known as Ruche, Moubenga and Walt Whitman. Also, the independent reserves review does not address prospective resources within the EEA.

The event is being held today, 8 January 2018, at 13:00 CET at The Thief, Landgangen 1 in Oslo, Norway and is hosted by CEO Carl K. Arnet and Lin Espey, Managing Director of BW Energy.

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

For further information, please contact:

Knut R. Sæthre, CFO, [phone]   

[e-mail] 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, operating in all major oil & gas regions, world-wide. BW Offshore has a track record of project execution and production operations extending over more than 30 years. In this time BW Offshore has executed 38 FPSO and FSO projects. The company is listed on the Oslo Stock Exchange. Further information is available at www.bwoffshore.com.

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

Company Update-Oil and Gas Segment

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Source: BW Offshore via Globenewswire