Voluntary Offer completed

NOT FOR DISTRIBUTION IN OR INTO CANADA, AUSTRALIA, JAPAN OR ANY OTHER

JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL

Dated: 20 December 2013

Reference is made to the offer document dated 4 July 2013 (the "Offer Document"), issued by

Yinson Production Limited (the "Offeror"), relating to its voluntary tender offer (the "Offer") to acquire

all outstanding shares (the "Shares") in Fred. Olsen Production ASA (the "Company" or "FOP"), as well

as the announcement dated 29 November 2013 that all conditions for the Offer had been satisfied.

Settlement of the Offer was completed on 20 December 2013. Following the settlement, the Offeror owns

102,823,421 Shares, equalling 97.1% of the outstanding Shares and votes in FOP.

Following completion of the Offer, the Offeror intends to initiate a compulsory acquisition of the remaining Shares

in the Company not owned by the Offeror in accordance with applicable laws, and to propose that the Company

applies for a delisting of the Shares from the Oslo Stock Exchange. It is expected that a compulsory acquisition of

the remaining Shares in the Company will be effectuated mid-January 2014.

Arctic Securities ASA acts as Receiving Agent in respect of the Offer, and Financial Advisor to the Offeror.

* * * * * *

The Offer and the distribution of this announcement and other information in connection with the Offer may be restricted

by law in certain jurisdictions. The Offeror does not assume any responsibility in the event there is a violation by any person

of such restrictions. Persons into whose possession this announcement or such other information should come are required

to inform themselves about and to observe any such restrictions.

This information is subject to the disclosure requirements set out in section 6-19 of the Norwegian Securities Trading Act.