SETTLEMENT FOR THE SHARES IN FRED. OLSEN PRODUCTION ASA

Reference is made to Fred. Olsen Production ASA (“FOP”) announcing today that settlement of the voluntary offer by Yinson Production Limited to acquire all outstanding shares in FOP has been completed. First Olsen Ltd, which is owned 50/50 by Bonheur ASA and Ganger Rolf ASA, has received settlement for its 65 191 200 shares, representing 61.54% of the total issued shares of FOP, amounting to approximately NOK 612.8 million.