Offshore Rig Services Strengthens Management Team

Arnstein Hernes has been appointed CFO of OffRig Drilling ASA and will start his new position in October 2006.

Hernes has a broad experience from the oil industry. He has been with the Ministry of Oil and Energy and held senior positions in Elf Aquitaine and Eni. He has worked as Corporate Controller for Norsk Hydro and as Finance Manager and Executive VP of Kverneland Group.

Hernes has an MBA from IESE.

Kolbjorn Akselvoll has been appointed Vice President Projects of Offshore Rig Services.

Akselvoll has previously been working for Awilco Offshore as Area Manager and has been with Aker and Dolphin Drilling/Fred. Olsen Production in various positions. He has international management experience from rig construction and operations.

Akselvoll will start in his new position in September 2006.