Fred Olsen Energy Declines Option for Additional Semi from Hyundai Heavy

Moss Maritime CS 60 E
Image courtesy Moss Maritime

Norwegian oil and gas exploration and production service provider Fred. Olsen Energy ASA (FOE.SE) said Wednesday it has decided not to exercise the option for a second newbuild semi-submersible from Hyundai Heavy Industries Co., Ltd. (009540.SE).

-At 1343 GMT shares traded 0.2% higher at NOK253.

– Dominic Chopping, (c) 2012 Dow Jones & Company