Fred. Olsen Production CEO to Resign

- Fred. Olsen Production CEO to Resign

Monday, June 20, 2011
Fred. Olsen Energy ASA

Fred Olsen Production informed that Mårten Lunde will resign as CEO of the Company on July 31, 2011.

The Board has decided to appoint CFO Jørn Røkaas as acting CEO as from August 1.

The Board regrets Lunde's decision to leave the company and will thank him for his contribution to the development of Fred. Olsen Production.

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Lundin Contracts Fred Olsen Semisub for NCS Drilling

- Lundin Contracts Fred Olsen Semisub for NCS Drilling

Thursday, May 19, 2011
Fred Olsen Energy ASA

Dolphin Drilling, a subsidiary of Fred Olsen, has entered into a Letter of Award for the provision of the semi-submersible drilling rig Bredford Dolphin with Lundin Norway AS for operation on the Norwegian Continental Shelf. The contract is for a six well drilling program with an estimated duration of one year, with commencement January 2012. Lundin have the option to extend the contract period with three additional wells within November 30, 2011. The estimated contract value for the firm period is approximately USD 133 million.

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Fred. Olsen Lines Up Semisub for Offshore Brazil Drilling

Fred. Olsen Lines Up Semisub for Offshore Brazil Drilling

Tuesday, April 26, 2011

Fred. Olsen Energy ASA

Dolphin Drilling, a subsidiary of Fred. Olsen Energy, has entered into a Letter of Intent for the provision of the semi-submersible Blackford Dolphin for the drilling of one well offshore Brazil. Commencement is scheduled late in the fourth quarter 2011, with an estimated duration of total 135 days of which some 118 days will be in continuation of the existing Reliance contract. Total contract value is approximately USD 47 million. The contract remains subject to final contract agreement, partner and management approval which are anticipated to be closed within end May.