Odfjell Drilling Ltd

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.

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)

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)

--

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)