Annual Report 2005 (6 MB) - Lundin Petroleum

2005
The amount recorded for 2005 relates to the purchase of shares in Lundin International SA. If this investment had been done in 2004 the
eff ect on the Group’s result for 2004 would not have been material.
2004
The values shown in the table represent the values assigned to the assets and liabilities of Lundin Britain Ltd (formerly DNO Britain Ltd)
and Lundin Ireland Ltd (formerly Island Petroleum Developments Ltd) as at the date of acquisition by Lundin Petroleum for the purposes
of consolidating into the Group accounts of Lundin Petroleum AB. If the acquisitions had occurred on 1 January 2004, the eff ect on net
sales and net result would not have been material.
NOTE 36 – RELATED PARTY TRANSACTIONS
The Group has entered into transactions with related parties on an arms length basis as described below:
The Group paid TSEK 402 (TSEK 345) to Namdo Management Services Ltd., a private corporation owned by Lukas H. Lundin, a director
of the Company, pursuant to a services agreement. Namdo has approximately 12 employees and provides administration and fi nancial
services to a number of public companies. Accordingly, there is no basis for allocating the amounts paid to Namdo to Mr Lukas H. Lundin
directly. The outstanding payable amount at balance date amounts to TSEK 185.
The Group received TSEK 2,334 (TSEK 2,412 ) from Vostok Nafta Investment Ltd and related companies, for the provision of offi ce and
accounting services. Vostok Nafta is considered a related party because the Honorary Chairman of Lundin Petroleum AB, Mr Adolf H.
Lundin has signifi cant investment within this company. The outstanding receivable at balance date amounts to TSEK 80.
NOTE 37 – AVERAGE NUMBER OF EMPLOYEES, SALARIES, OTHER REMUNERATION AND SOCIAL SECURITY COSTS (TSEK)
2005 2004
Average number of employees per country Total employees of which men Total employees of which men
Parent company
Sweden – – 2 –
Total parent company – – 2 –
Subsidiary companies in Sweden – – – –
Subsidiary foreign companies
United Kingdom 62 55 149 132
France 50 40 51 41
Norway 16 12 25 20
Switzerland 35 23 31 20
Netherlands 6 3 5 3
Indonesia 16 11 16 11
Tunisia 12 9 10 6
Albania – – 1 1
Total subsidiary companies 197 153 288 234
Total Group 197 153 290 234
For the Group, a total of 20 persons held senior management and board positions (2004: 19 persons and 2003: 15 persons). Two women
are included in these positions in 2005 (One woman during 2004, 2003 and 2002).
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