Delivery of Consideration Shares in the Offer

NOT FOR PUBLIC DISTRIBUTION, DIRECTLY OR INDIRECTLY,

IN OR INTO THE UNITED STATES OF AMERICA, SOUTH

AFRICA, CANADA, AUSTRALIA OR JAPAN

11 October 2010 - Reference is made to the offer

document dated 27 July 2010 from BW Offshore Limited

("BW Offshore") regarding the voluntary exchange

offer (the "Offer") for all of the issued and

outstanding shares of Prosafe Production Public

Limited ("Prosafe Production") not owned, directly or

indirectly, by BW Offshore. Reference is further made

to the information memorandum and supplemental

document dated 16 September 2010 and previous

announcements issued in connection with the Offer.

In line with the announcement on 8 October 2010, the

delivery of the 216,684,280 consideration shares, in

aggregate, in BW Offshore to the accepting Prosafe

Production shareholders' VPS accounts has been

completed today. It is expected that the cash

consideration payable by BW Offshore under the Offer

will be provided to the accepting Prosafe Production

shareholders' registered bank accounts in the VPS on

or about 12 October 2010.

For further information, please contact:

Carl K. Arnet, CEO, +65 9630 3290

Knut R. Sæthre, CFO, +47 9111 7876

This information is subject to the disclosure

requirements pursuant to Section 5-12 of the

Norwegian Securities Trading Act.

This announcement is not an offer for sale of any

securities in the United States. Securities may not

be offered or sold in the United States absent

registration or an exemption from registration under

the U.S. Securities Act. BW Offshore has not

registered and does not intend to register any

portion of any offering of shares in the United

States or to conduct a public offering of any

securities in the United States.

AI assistant