Offer document reviewed and approved

(This is a copy of announcement from BW Offshore
Limited, 27.07.2010 at 17:24 hours.)

NOT FOR PUBLIC DISTRIBUTION, DIRECTLY OR INDIRECTLY,
IN OR INTO THE UNITED STATES OF AMERICA, SOUTH
AFRICA, CANADA, AUSTRALIA OR JAPAN

27 July 2010 - Reference is made to the stock
exchange notices from BW Offshore Limited ("BW
Offshore" or "BWO") of 21 June 2010, 30 June 2010 and
14 July 2010 regarding the intention to make a
voluntary exchange offer (the "Offer") for all
of the issued and outstanding shares of Prosafe
Production Public Limited ("Prosafe Production") not
currently owned, directly or indirectly, by BW
Offshore.

The offer document and information memorandum
containing equivalent information as a prospectus
(the "Offer Document") has been reviewed and approved
by the Oslo Stock Exchange in accordance with Section
6-14 of the Norwegian Securities Trading Act and
reviewed by the Financial Supervisory Authority of
Norway in accordance with Section 7-13, cf. Sections
7-4 no 6 and 7-5 no 7 of the Norwegian Securities
Trading Act.

The consideration in the Offer is 1.2 shares in BW
Offshore plus NOK 2.00 in cash for each share in
Prosafe Production. If Prosafe Production completes
the sale of its turret and swivel business no later
than two Norwegian business days prior to expiry of
the offer period on conditions as set out in the Offer
Document, the consideration shall be 1.2 shares in BW
Offshore shares plus NOK 5.25 in cash for each share
in Prosafe Production. The offer period is from and
including 29 July 2010 to and including 25 August
2010 at 17:30 (CET).

The Offer Document will, subject to restrictions
under applicable securities laws, be available prior
to the commencement of the offer period at the website
of BW Offshore, www.bwoffshore.com/ir, and the
website of Carnegie, www.carnegie.no. Further, the
Offer Document will, subject to restrictions under
applicable securities laws, be sent to the
shareholders of Prosafe Production.

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 one of the world's leading FPSO
contractors and a market leader within advanced
offshore loading and production systems to the oil
and gas industry. BW Offshore has more than 25 years'
experience and has successfully delivered 14 FPSO
projects and 50 turrets and offshore terminals. BW
Offshore's technology division APL has delivered
solutions for production vessels, storage
vessels and tankers in a wide range of field
developments. Adapting through competence, in-house
technology, solid project execution and operational
excellence, BW Offshore ensures that customer needs
are met through versatile solutions for offshore oil
and gas projects. BW Offshore has a global network
with offices in Europe, Asia Pacific, West Africa and
the Americas. BW Offshore has 1,100 employees and is
listed on the Oslo Stock Exchange. For more
information, please visit www.bwoffshore.com and
www.apl.no.

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.