Extension of offer period

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

16 August 2010 - Reference is made to the offer
document dated 27 July 2010 (the "Offer Document")
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
currently owned, directly or indirectly, by BW
Offshore. The initial acceptance period in the Offer
(the "Offer Period") was from and including 29 July
2010 to and including 25 August 2010 at 17:30 (CET).

BW Offshore has decided to extend the Offer Period by
two weeks in order to ensure that any possible
developments relating to BW Offshore that could be
relevant for assessing the Offer is available to the
market prior to expiry of the Offer Period.

Following the extension, the Offer Period will expire
on 8 September 2010 at 17:30 (CET).

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.