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.