Annual General Meeting

The Annual General Meeting (AGM) of Fred. Olsen Production ASA was held today, Wednesday 23 May 2012. All proposals on the agenda were adopted in accordance with the agenda for the AGM which was sent to the Oslo Stock Exchange on 2 May 2012. The AGM of Fred. Olsen Production ASA has today approved the financial statements and annual report of Fred. Olsen Production ASA and the Group for 2011.

Please find enclosed protocol and presentation from the AGM.

About Us

Fred. Olsen Production ASA (FOP) is listed on the Oslo Stock Exchange (trades under the ticker "FOP") and has been active in the offshore oil & gas production business since 1994. FOP’s first day of listing was May 11th 2007. First Olsen Ltd. (FOL), a company owned 50% by Ganger Rolf ASA and 50% by Bonheur ASA is the main shareholder with 61.5% of the outstanding shares.