1999 Industry Pioneers

Fred OlsenFred Olsen

As Chairman of the Aker Group, Olsen oversaw the transition of Aker from shipbuilding to offshore oil industry operations. Associated with floating drilling operations in the North Sea, Olsen's company built the Ocean Viking semisubmersible in 1965. Building on his experiences, he developed the Aker H-3 drilling vessel, one of the workhorses of the world's semisubmersible drilling fleet. Over 26 H-3s were built during the 1970s, more than any other design. All are still in use, several upgraded to 4th and 5th generation, and have made a significant contribution to the development of deep water offshore fields.