BWO Annual Report 2020

2020 in brief BW Offshore engineers innovative floating production solutions. The Company has 10 FPSOs in operation, with potential and ambition to grow. By leveraging four decades of offshore operations and project execution, the Company creates tailored energy solutions for evolving markets world-wide. The BW Offshore team delivers with a combined engineering and operating mindset when designing new FPSOs, preparing redeployments and exploring new opportunities. The Company fosters a culture where people grow and thrive. BW Offshore has around 2,000 employees and is publicly listed on the Oslo Stock Exchange. KEY EVENTS • Safeguarding people, operations and partners throughout the COVID-19 pandemic • High commercial uptime for the FPSO Fleet • BW Energy listed as an independent E&P company on the Oslo Stock Exchange in February • Five-year contract plus five year options for BW Pioneer • Contract extensions for Petróleo Nautipa, Abo FPSO and FPSO Polvo • Agreement with New Zealand government for a fully funded disconnection of Umuroa • Completed USD 10 million share buy-back programme • Quarterly dividend payments introduced, totalling USD 25 million annually 4 BW Offshore Limited | Annual Report 2020