Fred. Olsen Energy Asa - FOE- Profile

Fred. Olsen Energy ASA(FOE). The Group's principal activity is to provide exploration drilling services to the offshore oil and gas industry. In addition, the Group also provides engineering, fabrication and repair services for offshore and transportation industries. The Group's operations are carried out through two segments: Offshore Drilling and Engineering and Fabrication. The offshore drilling segment provides services such as engineering, snubbing and remote control operated sub sea vehicles. The engineering and fabrication segment designs and constructs customised drilling rigs, vessels and floating production systems based on advanced and innovative technology. Offshore drilling accounted for 96% of 2005 revenues and Engineering and fabrication, 4%