Fred. Olsen Energy

Fred. Olsen Energy ASA

Type	Public (Allmennaksjeselskap)
Traded as	:
Industry	Offshore services
Founded	1997 (1997)
Headquarters	Oslo, Norway
Key people	Anette Olsen (Chairman) Ivar Brandvold (CEO)
Services	Offshore drilling marine engineering
Revenue	NOK 6.019 billion (2010)
Operating income	NOK 2.179 billion (2010)
Net income	NOK 1.938 billion (2010)
Total assets	NOK 13.52 billion (end 2010)
Total equity	NOK 6.939 billion (end 2010)
Number of employees	1,245 (average, 2010)
Website	www.fredolsen-energy.no

Fred. Olsen Energy 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, United States 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:

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

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 Subsea 7). Since then the company has bought a number of drilling rigs. Most recently a new deepsea rig went into operations late 2014. Another extreme conditions deepsea rig is expected to be ready autumn 2015. Both off them have longterm contracts (5 and 4 years) with dayprices well over 500.000 USD.