Report on payments to governments

Report on payments to governments

To provide for enhanced transparency on payments made to governments, BW Energy Limited (“BW Energy” or “the Company”) has prepared a report as required by the Norwegian Security Trading Act §5-5, following the requirements set out in the Norwegian Accounting Act §3-3d where entities which are active in extractive industries are required to disclose material payments made to governments in the countries in which they operate in a separate report.

BW Energy has today published the report on payments to governments for the financial year 2019. The report is available at www.bwenergy.no/investors/reports-and-presentations.

For further information, please contact:

Knut R. Sæthre, CFO BW Energy, +47 91 11 78 76
ir@bwenergy.no

About BW Energy:

BW Energy is a growth E&P company with a differentiated strategy targeting proven offshore oil and gas reservoirs through low risk phased developments. The Company has access to existing FPSOs to reduce time to first oil and cashflow with lower investments than traditional offshore developments. The main assets are 73.5% of the producing Dussafu Marine Permit offshore Gabon and a 95% interest in the Maromba field in Brazil, both operated by the Company. Total net 2P+2C reserves are 247 million barrels at the start of 2020 and gross average production from Dussafu was 11.8 kbopd in 2019.

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.