BW Offshore Names New Chief Financial Officer

BW Offshore has appointed Knut R. Saethre as new Chief Financial Officer. Saethre comes from the position as Chief Financial Officer in APL.

Saethre has totally 16 years experience from international management within the industrial machinery and oil service business with APL, ABB and Aker Kvaerner MH. He holds a degree in business administration from Germany and Switzerland, and an MBA in Strategic Management from the Norwegian School of Economics and Business Administration. He will take up his new position on December 1, 2007.