FSO Knock Nevis to Demobilize from Al Shaheen Offshore Qatar

Today, August 12, 2009, is the expiry date set out in the contract with Maersk Oil Qatar AS for the utilization of FSO Knock Nevis. The demobilization from the Al Shaheen field offshore Qatar has started and Knock Nevis will remain on the field for another month to perform crude oil washing of the storage tanks and complete demobilization.

Fred. Olsen Production continues to market Knock Nevis for future opportunities worldwide. Before starting any new employment, FSO Knock
Nevis would have to go through a Special Class Survey.