Bw Offshore Ltd.

BW Offshore: First Gas achieved on the BW Opal FPSO

First Gas achieved on the BW Opal FPSO

BW Offshore is proud to announce that the BW Opal FPSO has achieved First Gas on

20 September, after successfully reaching Ready for Start-Up (RFSU) for the

Santos operated Barossa LNG project on 16 September, initiating 60% of the

contractual dayrate under the charter.

First Gas represents a critical juncture in the formal transition from project

to operations phase and demonstrates BW Opal's readiness to deliver stable

energy production.

The next milestone, Interim Performance Test (IPT), will increase the payable

dayrate to 85%. The final milestone, Practical Completion (PC), will conclude

the delivery phase, trigger 100% of the dayrate, and mark the commencement of

the 15-year firm contract period, securing long-term revenues for the Company

under the charter agreement.

"Reaching First Gas on BW Opal is a tremendous achievement and a testament to

the hard work, dedication, and collaboration of our teams, contractors, and

partners," said Marco Beenen, CEO of BW Offshore. "It demonstrates our

commitment to delivering complex projects safely and efficiently, while

supporting energy security and value creation for our stakeholders."

The BW Opal FPSO, designed to process 850 million standard cubic feet per day

(MMSCFD) of gas and capacity of 11,000 barrels per day of stabilised condensate,

will operate in the Santos operated Barossa gas field, located 285 kilometres

offshore Darwin in the Northern Territory of Australia. The FPSO will play a

central role in unlocking the resource potential of the Barossa field for years

to come.

For further information, please contact:

Ståle Andreassen, CFO, +47 91 71 86 55

[email protected] or www.bwoffshore.com (http://www.bwoffshore.com)

About BW Offshore:

BW Offshore engineers innovative floating production solutions. The Company has

a fleet of 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 1,000 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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