BW Energy (BWE) is pleased to announce first oil from the Tortue Phase 2 field
development project (Phase 2) in the Dussafu Marin Permit offshore Gabon. The
Gamba well DTM-5H was successfully brought online as of 4 March, ahead of
schedule. The second well, DTM-4H, is scheduled to come onstream in the coming
week.

Phase 2 consists of four production wells, tied back to the FPSO BW Adolo. The
DTM-4H and DTM-5H are the first of two clusters. The second cluster is currently
being drilled and is scheduled to begin production by June 2020. Total
production after completion of Phase 2 is projected to be 17.3 - 21.6 kbopd
gross for 2020 from six producing wells, compared with an average of 11.8 kbopd
gross produced in 2019.

"Tortue Phase 2 will provide a substantial increase in production this year and
we are pleased to again have executed ahead of schedule. Following completion of
Tortue Phase 2, we will seek to unlock additional reserves through a new
exploration well in the Dussafu license where we so far have had 100%
exploration success rate", said Carl K. Arnet, CEO of BW Energy.

The Dussafu Marin JV consists of BW Energy (Operator, 73.5% working interest),
Tullow Oil (10% working interest), Gabon Oil Company (9% working interest) and
Panoro Energy (7.5% working interest).

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.

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