Fred. Olsen Energy

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Fred. Olsen Energy ASA
Public (Allmennaksjeselskap)
Traded as OSE: FOE
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)[1]
NOK 2.179 billion (2010)[1]
NOK 1.938 billion (2010)[1]
Total assets NOK 13.52 billion (end 2010)[1]
Total equity NOK 6.939 billion (end 2010)[1]
Number of employees
1,245 (average, 2010)[1]
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, 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:

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

History[edit]

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.

References[edit]

  1. ^ a b c d e f "Annual Report 2010" (PDF). Fred. Olsen Energy. Retrieved 5 May 2011. 

External links[edit]