Fred. Olsen Energy

Fred. Olsen Energy ASA

Type	Allmennaksjeselskap
Industry	Oil and gas
Founded	1997
Headquarters	Oslo, Norway
Key people	Anette Olsen (Chairman), Ivar Brandvold (CEO)
Products	Drilling rigs, marine engineering
Revenue	NOK 6.600 billion (2009)
Operating income	NOK 3.008 billion (2009)
Profit	NOK 2.749 billion (2009)
Employees	1,300 (2009)
Website	www.fredolsen-energy.no

Fred. Olsen Energy (OSE: FOE) is a Norwegian offshore drilling rig company, offering services for the offshore industry within development and production of oil and gas. The company operates in two segments; Offshore Drilling and Engineering & Fabrication, the latter of which includes the Northern Irish shipyard Harland and Wolff.

Fred. Olsen Energy has its headquarters in Oslo, and offices in Stavanger, UK, Brazil, Mexico, Hungary, India, USA and Singapore. The Company was established in 1997 and is listed on the Oslo stock exchange with the ticker FOE. The main shareholders are the companies Bonheur and Ganger Rolf ASA, which is controlled by the Olsen family. The Chairman of the board is Anette Olsen.

Fleet owned and operated:

• 1 ultradeepwater drillship – 10 000 ft water depth
• 1 deepwater drilling rig - 7 000 ft water depth
• 6 Mid water semi submersible drillingrig
• 1 UK certified semi submersible accommodation rig

Enterprise value: 12.6 bn Norwegian kroner (USD 1.9 bn)

History

In 1997 the company was listed on Oslo Stock Exchange. The next year its remotely operated vehicle (ROV) division was sold to Stolt Comex Seaways (now Acergy). Since then the company has bought a number of drilling rigs.

External links

• Official website