With reference to stock exchange release dated 5 May 2017.
Sendje Berge Limited, a subsidiary of BW Offshore Limited (BWO), is pleased to announce that all outstanding day rates in the respect of the hire of the FPSO Sendje Berge now has been paid by Addax Petroleum Exploration Nigeria Limited (Addax).
The payment was made in accordance with the arbitration award from February 2017, where the tribunal declared Addax to pay all outstanding day rates and to make no deduction from future hire payments.
For further information, please contact:
Knut R. Sæthre, CFO, +47 9111 7876
About BW Offshore:
BW Offshore is a leading global provider of floating production services to the oil and gas industry. BW Offshore has a fleet of 14 owned FPSOs and one FSO represented in all major oil & gas regions world-wide. BW Offshore has a long track record on project execution and operations. In more than 30 years of production, BW Offshore has executed 38 FPSO and FSO projects. The company is listed on the Oslo Stock Exchange.