Completion of the sale of APL to National Oilwell Varco

8 December 2010 - Reference is made to the announcements made by BW Offshore

Limited ("BW Offshore") on 13 September 2010 and the publication of an

information memorandum and supplemental document, dated 16 September 2010,

regarding the agreement entered into by and between BW Offshore Cyprus Ltd, a

wholly owned subsidiary of BW Offshore and National Oilwell Varco Norway AS, a

wholly owned subsidiary of National Oilwell Varco, Inc., for the sale of all its

shares in its subsidiary APL (Advanced Production & Loading) Plc to National

Oilwell Varco Norway (the "APL Transaction").

The APL Transaction has been completed today.

For further information, please contact:

Carl K. Arnet, CEO, +65 9630 3290

Knut R. Sæthre, CFO, +47 9111 7876

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 16

FPSOs and 3 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. In over 25 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 onwww.bwoffshore.com .

This information is subject of the disclosure requirements acc. to §5-12 vphl

(Norwegian Securities Trading Act)

[HUG#1470586]

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