Energy SpA — Capital/Financing Update 2023

Jul 18, 2023

BW Energy: Start-up of gas lift compressor on BW Adolo FPSO

BW Energy: Start-up of gas lift compressor on BW Adolo FPSO

Start-up of gas lift compressor on BW Adolo FPSO

BW Energy is pleased to announce the start-up of the new gas lift compressor

(GLC) on the BW Adolo FPSO following commissioning and a gradual ramp up of gas

lift capacity over the past weeks.

The compressor is the second GLC unit installed on the FPSO to support

production from the six Tortue wells. Once fully operational it is expected to

add approximately 3,000 barrels per day of production as previously

communicated.

For further information, please contact:

ir@bwenergy.no

About BW Energy:

BW Energy is a growth E&P company with a differentiated strategy targeting

proven offshore oil and gas reservoirs through low risk phased developments. The

Company has access to existing production facilities to reduce time to first oil

and cashflow with lower investments than traditional offshore developments. The

main assets are 73.5% of the producing Dussafu Marine Permit offshore Gabon and

a 95% interest in the Maromba field in Brazil, both operated by the Company.

Total net 2P+2C reserves were 428 million barrels at the start of 2023.

This information is subject to the disclosure requirements pursuant to Section

5-12 the Norwegian Securities Trading Act