Fred. Olsen Energy ASA - Successful placement of new Senior unsecured bond

Reference is made to the notification sent February 13, 2014 regarding
Fred. Olsen Energy ASA contemplating to issue a new senior unsecured
bond in the Norwegian Market.

Fred. Olsen Energy ASA has successfully completed a new senior unsecured
bond issue of NOK 1,100 million in the Norwegian bond market with
maturity in February 2019, priced at 3 months NIBOR plus 3.00 per cent.
Settlement date is expected to be February 28, 2014.

An application will be made for the bonds to be listed on the Oslo Børs.
As previously announced, the proceeds will be used for general corporate
purposes.

Danske Bank Markets, DNB Markets, SEB and Swedbank have acted as Joint
Lead Managers for the issuance.

For further information, please contact:

Fred. Olsen Energy ASA

Hjalmar Krogseth Moe
Chief Financial Officer

Telephone: +47 22 34 12 49

Jannicke Nergaard Berg

Finance Manager

Telephone: +47 22 34 12 41

Oslo, February 14, 2014

This information is subject of the disclosure requirements pursuant to
section 5-12 of the Norwegian Securities Trading Act.