Note 1 - Beerenberg

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Management report Technology and development In-house technology (BC/GFC) ISS (Insulation, Scaffolding and Surface treatment) Beerenberg has a clear and unequivocal objective for its innovative business, and it quality-controls every technology development project according to the following non-negotiable requirements: 1) Every change shall contribute to the same or a better level of HSE/Q performance 2) Every change shall contribute to the same or a better level of maintenance efficiency The Innovation & Technology division at Beerenberg has around 170 staff and is a market leader in the ISS sector. It includes a technical department with engineers and inspectors as well as a dedicated research and development department. As well as ISS product and method development, the R&D department also comprises a team that undertakes concept, method and tools development in the area of surgical cutting and mobile machining (decommissioning). Development of ISS technology takes place across the various Beerenberg divisions and in close co-operation with R&D. Beerenberg has a number of products and solutions that have been developed in-house, patented (16 granted and 20 patent pending) and in other ways protected by intellectual property rights (design, brand or exclusively licensed). Beerenberg’s areas of business are organised into separate Business Centres / Greenfield Centre (6BC/1GFC), each with one manager in charge of its performance. Technical department The technical department has around 120 staff, and most of its engineers and inspectors are deployed at the company’s various operational units and projects. The department has specialist expertise in all areas of ISS. We use the best system solutions on the market, including ANSYS (calculations/simulations), Inventor (3-D modelling) and webTiv (an in-house study tool / planning tool). The solutions that we develop cover the entire field of ISS and comprise operational solutions and implementation models (project management, operations) as well as product development (Benarx, decom, access) and technology solutions (laboratory and project testing of paint/fire protection/insulation). We are seeing growing demand for our expertise both on the NCS and in the international markets. Benarx (Insulation products/solutions) Benarx is the name of the sophisticated insulation solutions developed by Beerenberg for passive fire protection and thermal and acoustic insulation. The solutions save space, reduce weight and improve efficiency, and they simplify logistics, improve HSE and have unique thermal and acoustic properties. Product development has taken place in close partnership with institutions such as SINTEF, DNV, the National Institute of Technology, GexCon and Lloyd’s (type approval). The solutions have been tested and approved according to all relevant specifications/standards. Benarx is a well established solution on the NCS. During 2012 we also developed an international market for these products. Partners have therefore been recruited in the UK and Kazakhstan. Corrosion under insulation Corrosion under insulation (CUI) represents one of the greatest threats to the safety, life extension and stable production of oil and gas installations. Because of continued life extensions in excess of the intended design lifespan, this problem is escalating beyond what the industry can currently deal with. 12
The cost of potential loss of life and installations, production stops and emissions relating to CUI is enormous. The combined length of insulated offshore pipes is estimated to be more than 800 km. In 2012, 38% (86 installations) of the installations on the NCS were more than 20 years old. By 2020, 60% (95 installations) will be more than 20 years old. Beerenberg’s CUI project addresses this problem in full with solutions capable of monitoring CUI drivers in both existing and new pipelines as well as monitoring the evolution of corrosion. The company’s planning and maintenance monitoring system webTiv is designed to handle the collection of data and to perform analyses to identify anti-CUI measures. Mobile Machnining & Abandonment Beerenberg has developed unique (cold) methods and tools for surgical cutting and mobile machining. The technology is based on Beerenberg’s specialist expertise in the use of synthetic diamonds. In line with the company’s philosophy, solutions can be remote-controlled and require a minimal amount of personnel and equipment. This helps to reduce safety risks and to achieve high cutting speeds, lower costs and improved implementation capabilities. We carry out precision cutting on objects ranging from the smallest bolts to large structures, regardless of weight, design and materials. During 2012 the department further developed the technology and inspired confidence in the market, and prospects for 2013 are therefore good. Subsea insulation Thermal subsea insulation is a growing segment at BBC. We use the best materials on the market and have developed effective methods and tools for production and installation. We carry out assignments all over the world. Equipment/ personnel are therefore organised in such a way as to allow them to be quickly deployed and carry out their assignments wherever the clients want. A long-term framework agreement has been reached with FMC. During 2012 solid foundations were established for further growth in 2013–2014. Rope Access techniques (RAT) Rope Access Techniques are a method that use ropes and climbing techniques for working at height, for protecting employees and for rescue missions. In 2012 we mobilised personnel for assignments both on the Norwegian Continental Shelf and internationally. A framework agreement is in place for assignments all over the world. Beerenberg continues to develop and improve its methods. RAT is developing rapidly and is increasingly used as an alternative to traditional access (scaffolding). We have constructed and installed what is possibly the best training rig on the market – an installation that offers excellent opportunities for both internal and external course participants to practise working at height, fall protection and rescue. Sveisolat Sveisolat is a system developed by Beerenberg that comprises overpressure habitats, mobile gas detectors and an operating unit controlled by certified operators. A habitat allows hot work to take place in any part of an offshore installation, oil and gas terminal or petrochemical plant. Since introducing Sveisolat in 2002, Beerenberg has amassed significant expertise and experience in this field. The company currently has 50 certified operators and 50 operating systems in operation. The systems are certified and prepared in a dedicated workshop at the company’s premises in Stavanger. Sveisolat is an export product. Existing international partnership agreements were continued in 2012, and concrete projects have been carried out in countries such as Denmark and Malaysia. Beerenberg is seeing an increased use of habitat technology both within traditional processes relating to welding and other hot work and in areas such as the delivery of other advanced solutions – particularly areas where habitat technology can generate significant efficiency savings. We consider the prospect of further development both within traditional and more complex processes to be highly interesting, offering good market opportunities both domestically and internationally. Decommissioning (Greenfield Centre) With the establishment of Beerenberg Inc., Beerenberg is investing heavily in developing solutions and tools for removing risers (conductors) on the US side of the Gulf of Mexico (USGoM). “Green Turtle” is a remote-controlled tool with rotating diamond blades that cuts and removes risers 15 feet below the seabed (regulatory requirement in the US). We have also developed a unique diamond wire saw that makes it possible to cut complex and large structures regardless of axial load and materials. Green Sawfish completed its first commercial assignment (P57A) for Devon with great success in autumn 2011. 13
Page 1 and 2: Beerenberg Corp. AS & beerenberg Co
Page 3: Contents Our VisIon 3 Management re
Page 6 and 7: 4 Beerenberg CORP. AS Group group a
Page 8 and 9: Offshore Offshore Market Market by
Page 10 and 11: Production by lifecycle Production
Page 12 and 13: 10 Beerenberg CORP. AS Group group
Page 16 and 17: Management report International act
Page 18 and 19: Management report Organisational ri
Page 20: The Beerenberg Corp. AS board of di
Page 23 and 24: Tore Angelskår Roger Kjeilen Tore
Page 25 and 26: The profit for the year totalled NO
Page 27: The group has a long-term goal of e
Page 30 and 31: Beerenberg Corp. AS Group Group Acc
Page 36 and 37: Note 1 Beerenberg Corp. AS is a lim
Page 38 and 39: Note 3 | Accounting principles Clas
Page 40 and 41: Note 3 | Accounting principles Inta
Page 42 and 43: Note 3 | Accounting principles Oner
Page 44 and 45: Note 3 | Accounting principles work
Page 46 and 47: Note 3 | Accounting principles Stan
Page 48 and 49: Note 4 As a global supplier of oil
Page 50 and 51: Note 5 (Amounts in NOK 1,000) Accor
Page 52 and 53: Note 7 Other operating costs (Amoun
Page 54 and 55: Note 10 Tax (Amounts in NOK 1,000)
Page 56 and 57: Note 12 (Amounts in NOK 1,000) 2 01
Page 58 and 59: Note 13 (Amounts in NOK 1,000) Expo
Page 60 and 61: Note 13 | Financial instruments (co
Page 62 and 63: Note 14 Goods (Amounts in NOK 1,000
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Note 19 Loans to key employees (Amo
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Note 21 Remuneration of key employe
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Note 25 Operational leasing (Amount
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Note 30 Derivatives The Group had n
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Note 33 Secured Liabilities (Amount
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Annual accounts 2012 Beerenberg Cor
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Beerenberg Corp. AS Balance Sheet A
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Beerenberg Corp AS Statement of Ca
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Accounting principles Depreciation
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Note 2 Segment information (Amounts
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Note 6 Employee benefits - pensions
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Note 7 Intangible assets and tangib
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Note 9 Secured debts and guarantee
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Note 11 Consolidated items (Amounts
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Beerenberg Corp AS Auditing report
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BEERENBERG Corp. AS T +47 55 52 66
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Note 1 - Beerenberg

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