APPROVED PROSPECTUS

Oslo Børs has approved the following prospectus:

Fred. Olsen Production ASA

Prospectus in connection with listing of the
Shares of Fred. Olsen Production ASA
on Oslo Børs and Offering of up to 2,250,000 new
Sharse

Offer Price:
NOK 25.50 - 28.00 per Share

Application period:
From and including 27 April 2007 to and including
9 May 2007 at 16:00 hours (Norwegian time)

This Prospectus includes the following parts:
Part I: Summary Note
Part II: Share Securities Note
Part III: Share Registration Document
Part IV: Appendices
Lead Manager: ABG Sundal Collier
Co-Manager: DnB NOR Markets

The prospectus is available to the public at:

Managers:
ABG Sundal Collier Norge ASA
Munkedamsveien 45 D
P.O. Box 1444 Vika
NO-0115 Oslo
Norway

DnB NOR Markets
Stranden 21
N-0021 Oslo
Norway

The company:

Fred. Olsen Production ASA
Fred. Olsens gate 2
NO-0152 Oslo
Norway