BW Offshore: Sendje Berge Termination

(Thomson Reuters ONE) -


With reference to stock exchange release dated 1 March 2017.

Sendje Berge Limited, a subsidiary of BW Offshore Limited (BWO), has today
received termination notice for the FPSO Sendje Berge operating under a contract
with Addax Petroleum Exploration Nigeria Limited (Addax) on the Okwori field
offshore Nigeria.

The termination will have effect from 6 November 2017 and Addax has requested
BWO to provide a demobilisation plan for the FPSO.

BWO will continue the process with the enforcement of the arbitration award for
all outstanding claims against Addax. The outstanding gross claim at the end of
the first quarter 2017 was USD 61.8 million.

For further information, please contact:

Knut R. Sæthre, CFO, +47 9111 7876

IR(at)bwoffshore.com 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 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 of the disclosure requirements acc. to §5-12 vphl
(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

Weitere Infos zu dieser Pressemeldung:
Unternehmensinformation / Kurzprofil:
Bereitgestellt von Benutzer: hugin
Datum: 05.05.2017 - 18:00 Uhr
Sprache: Deutsch
News-ID 540632
Anzahl Zeichen: 1917

contact information:
Town:

Oslo

Kategorie:

Business News

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