Fred. Olsen Energy is a Norwegian

Norway

Norway , officially the Kingdom of Norway, is a Nordic unitary constitutional monarchy whose territory comprises the western portion of the Scandinavian Peninsula, Jan Mayen, and the Arctic archipelago of Svalbard and Bouvet Island. Norway has a total area of and a population of about 4.9 million...

 offshore drilling rig

Drilling rig

A drilling rig is a machine which creates holes or shafts in the ground. Drilling rigs can be massive structures housing equipment used to drill water wells, oil wells, or natural gas extraction wells, or they can be small enough to be moved manually by one person...

 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

Northern Ireland

Northern Ireland is one of the four countries of the United Kingdom. Situated in the north-east of the island of Ireland, it shares a border with the Republic of Ireland to the south and west...

 shipyard

Shipyard

Shipyards and dockyards are places which repair and build ships. These can be yachts, military vessels, cruise liners or other cargo or passenger ships. Dockyards are sometimes more associated with maintenance and basing activities than shipyards, which are sometimes associated more with initial...

 Harland and Wolff

Harland and Wolff

Harland and Wolff Heavy Industries is a Northern Irish heavy industrial company, specialising in shipbuilding and offshore construction, located in Belfast, Northern Ireland....

.

Fred. Olsen Energy has its headquarters in Oslo

Oslo

Oslo is a municipality, as well as the capital and most populous city in Norway. As a municipality , it was established on 1 January 1838. Founded around 1048 by King Harald III of Norway, the city was largely destroyed by fire in 1624. The city was moved under the reign of Denmark–Norway's King...

, and offices in Stavanger

Stavanger

Stavanger is a city and municipality in the county of Rogaland, Norway.Stavanger municipality has a population of 126,469. There are 197,852 people living in the Stavanger conurbation, making Stavanger the fourth largest city, but the third largest urban area, in Norway...

, UK, Brazil

Brazil

Brazil , officially the Federative Republic of Brazil , is the largest country in South America. It is the world's fifth largest country, both by geographical area and by population with over 192 million people...

, Mexico

Mexico

The United Mexican States , commonly known as Mexico , is a federal constitutional republic in North America. It is bordered on the north by the United States; on the south and west by the Pacific Ocean; on the southeast by Guatemala, Belize, and the Caribbean Sea; and on the east by the Gulf of...

, Hungary

Hungary

Hungary , officially the Republic of Hungary , is a landlocked country in Central Europe. It is situated in the Carpathian Basin and is bordered by Slovakia to the north, Ukraine and Romania to the east, Serbia and Croatia to the south, Slovenia to the southwest and Austria to the west. The...

, India

India

India , officially the Republic of India , is a country in South Asia. It is the seventh-largest country by geographical area, the second-most populous country with over 1.2 billion people, and the most populous democracy in the world...

, USA and Singapore

Singapore

Singapore , officially the Republic of Singapore, is a Southeast Asian city-state off the southern tip of the Malay Peninsula, north of the equator. An island country made up of 63 islands, it is separated from Malaysia by the Straits of Johor to its north and from Indonesia's Riau Islands by the...

. 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

Bonheur

For the artist, see Rosa BonheurBonheur is a Norwegian holding company for the Olsen family. The company is listed on Oslo Stock Exchange and has ownership in numerous companies within energy, shipping and other sectors. The Bonheur company controls the Ganger Rolf company which has a 19.51%...

 and Ganger Rolf ASA

Ganger Rolf ASA

Ganger Rolf ASA is a Norwegian holding company for the Olsen family. The company is listed on the Oslo Stock Exchange and has ownership positions in numerous companies primarily within the energy and shipping sectors, but also other areas such as real estate and mass media. All investments are...

, 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

Remotely operated vehicle

A remotely operated vehicle is a tethered underwater vehicle. They are common in deepwater industries such as offshore hydrocarbon extraction. An ROV may sometimes be called a remotely operated underwater vehicle to distinguish it from remote control vehicles operating on land or in the air. ROVs...

 (ROV) division was sold to Stolt Comex Seaways (now Acergy

Acergy

Acergy S.A. was an international offshore seabed to surface engineering and construction company previously known as Stolt Offshore and Stolt Comex Seaway and was part of the Stolt-Nielsen Group until 2005...

). Since then the company has bought a number of drilling rigs.