BW Offshore: Closing of the sale of the FPSO BW Pioneer

26 Mar 2025 07:45 CET

Closing of the sale of the FPSO BW Pioneer

Reference is made to the announcement dated 12 March 2025, in which BW Offshore
Limited ("BW Offshore") announced its agreement to sell the FPSO BW Pioneer for
USD 125 million to a subsidiary of Murphy Oil Corporation (NYSE: MUR).

Following the close of the transaction, BW Offshore has received the initial
payment of USD 100 million. The remaining balance is expected before end of Q2
2025 when certain contractual obligations are met. The two parties have also
signed a five-year reimbursable O&M contract, under which BW Offshore will
continue to provide operations and maintenance services.

For further information, please contact:
Ståle Andreassen, CFO, +47 91 71 86 55

IR@bwoffshore.com or www.bwoffshore.com

About BW Offshore:
BW Offshore engineers innovative floating production solutions. The Company has
a fleet of 2 FPSOs with potential and ambition to grow. By leveraging four
decades of offshore operations and project execution, the Company creates
tailored offshore energy solutions for evolving markets world-wide. BW Offshore
has around 1,100 employees and is publicly listed on the Oslo stock exchange.

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

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