Odfjell Drilling Ltd

According to a response sent to Minnesota State Board of Investment in January 2019, "Odfjell Invest Ltd nor any of its affiliates has had any active business operations in Iran after 4 November 2018. Since entering the Iranian oil and gas market in 2016, Odfjell Well Services II Ltd ("OWS"), a company in the Odfjell Drilling group, held two contracts until the end of the wind-down period on 4 November 2019:  (https://www.leg.state.mn.us/docs/2020/mandated/200121.pdf)

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In 2019, CalSTRS identified Odfjell Drilling as potentially having ties to Iran. CalSTRS subsequently removed Odfjell drilling after confirming the winddown of their Iranian involvement and reviewing the company’s internal controls.  (https://www.calstrs.com/sites/main/files/file-attachments/calstrs-investment-reports-2019.pdf?1577750493)

Odfjell was removed from the May 15, 2019 Iowa Public Employees' Retirement System Iran Prohibited Companies List. (https://www.ipers.org/sites/default/files/IPERS%27%20Iran%20Prohibited%20Companies%202Q19%20-%20REVISED.pdf)

All activities under these two contracts were terminated by OWS prior to the end of the wind-down period. Personnel and equipment demobilizaton was initiated before the end of the wind down period and completed shortly thereafter.