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Fred Olsen Production ASA initiates strategic review

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The Board of Fred. Olsen Production ASA (“FOP”) has in its meeting Friday 28thSeptember 2012 resolved to conduct a comprehensive review of strategic options available to FOP, including merger, sale or continued organic growth. In this connection FOP has engaged ABG Sundal Collier Norge ASA (“ABG Sundal Collier”) to act as its financial advisor.

For further information, please contact:

Eirik Barclay, CEO

Cell: +47 45 41 10 82

Jørn T. Røkaas, CFO

Cell: +47 90 08 83 26