Note 1 - Beerenberg

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Beerenberg Corp. AS management Morten Walde Leif Helge Eriksen Morten Walde (b. 1969) has been CEO of Beerenberg Corp. AS since 2008. Mr Walde joined the company in 1995 and has extensive experience from various management positions within the firm. For several years he was project manager for the company’s engineering and construction activities in Norway, Poland, Spain and Russia. From 2004 and until he took up the post of CEO, he first served as technical director, then director of operations and then Deputy CEO. Mr Walde has held various elected positions in the oil and gas industry as well as several internal boardroom positions. He graduated as an economist from BI Norwegian Business School and has additional qualifications in administrative information management from the University of Bergen. Leif Helge Eriksen (b. 1963) has been the company’s Deputy CEO since 2008 with operative responsibility for Operations North Sea and for the Sveisolat business area. He is also group co-ordinator for supply chain management and strategic IT. Eriksen took up the post of Director of Operations in 2006. He has extensive and varied management experience and joined Beerenberg from the family business Østraadt Stein AS, where he was CEO. He has previously worked for IRIS and Kverneland Group ASA, where he held several key management positions. Mr Eriksen is chairman of Korrosjonsentreprenørenes forening and vice chairman of Korrosjons-, isolerings- og stillasentreprenørenes forening. He qualified as a civil engineer specialising in mechanical engineering at the Norwegian Institute of Technology in 1988. Lars Erik Larssen Baste Tveito Lars Erik Larssen (b. 1960) was appointed CFO of Beerenberg Corp. AS in 2010. Mr Larssen has extensive experience as a consultant at Deloitte Management Consultants and partner at Hartmark Consultants, and he has been CFO of Lerøy Seafood. He was the CFO and a co-founder of NextGenTel ASA. Mr Larssen joined Beerenberg from BOS, where he served as CFO. Lars Erik Larssen graduated as an economist from the Norwegian School of Economics and Business Administration and holds an MBA in finance. He is also a certified financial analyst (CEFA). Baste Tveito (b. 1964) took up the post of CTO of Beerenberg Corp. AS in 2009 with responsibility for innovation and technology, including research and development, engineering and inspection services. He is also responsible for the business areas Decommissioning, Benarx, Rope Access Techniques (RAT) and Mobile Machining & Abandonment (MM&A). Mr Tveito joined Beerenberg in 2005 from the position of contracts manager at Frank Mohn Flatøy AS and has also worked as a senior buyer for Kværner Installasjon AS. Mr Tveito trained in the Norwegian army (officer training, the Norwegian Military Academy, the Norwegian Defence Command and Staff College), where he held a number of management positions. 20
Tore Angelskår Roger Kjeilen Tore Angelskår (b. 1977) has been serving as Executive Vice President since 2010 with responsibility for the business area Operations North-West. He joined Beerenberg as a trainee in 2004, and until 2007 worked as a project manager on major projects for Statoil and Hydro. In 2008–2009 Mr Angelskår worked as a project manager at Transocean AS. He has also worked for Frank Mohn AS. Mr Angelskår received a bachelor’s degree in Engineering and a bachelor’s degree in Business from Queensland University of Technology in 2002/2003. Roger Kjeilen (b. 1971) is Executive Vice President for Sales and Marketing and is responsible for the group‘s activities in relation to sales, marketing, tenders and contracts. He has held this position since 2008. Mr Kjeilen joined Beerenberg in 1996 and was put in charge of tenders in 2003. He has amassed extensive marketing experience from the international oil services market. From his previous positions at Beerenberg, Mr Kjeilen also has experience of operations as a contracts co-ordinator and project manager. He qualified as a civil engineer specialising in construction at the Norwegian Institute of Technology in 1994. Gary Kolderup Ola Jordal Gary Kolderup (b. 1958) is Executive Vice President for the business area Subsea & Technology Export and has overall responsibility for the group’s Subsea activities with particular focus on the west coast of Africa and the group’s activities in Kazakhstan. Gary Kolderup joined Beerenberg in 1989 and has extensive experience from the oil and gas industry. He has been in charge of several key projects at Beerenberg, including in Norway, most recently as project manager for the company’s activities during the Ormen Lange project. Ola Johannes Jordal (b. 1973) has been Executive Vice President since 2009 with responsibility for HSE/Q. He was recruited to Beerenberg as an HSE engineer in 2008. He has previously worked for the Norwegian Church Abroad, including in New Orleans and the Benelux countries. Mr Jordal holds a Cand. Teol. degree (2000) and is a certified quality auditor. Stig Tuastad Øistein Lillelien Stig Tuastad (b. 1968) was appointed Executive Vice President in 2011 with responsibility for HR, communications and compliance. He joined Beerenberg in 2009 as an HR manager and has a total of ten years’ experience in similar positions. He was previously HR manager at the telecoms company Nera Networks AS and the oil services company AGR. Mr Tuastad completed a Master’s degree in administration and organisation theory at the University of Bergen in 1998. Øistein Lillelien (b. 1961) was appointed Executive Vice President with responsibility for business development in April 2012. He joined Beerenberg in 2011 as a director of Beerenberg’s Business Centres. Mr Lillelien has 25 years of experience from the oil and gas industry both domestically and internationally and joined the company from Pittsburgh Corning, where he held various management positions, including director of business development. He is an engineering graduate and has held several boardroom positions. 21
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 14 and 15: Management report Technology and de
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 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
Page 64 and 65: Note 19 Loans to key employees (Amo
Page 66 and 67: Note 21 Remuneration of key employe
Page 68 and 69: Note 25 Operational leasing (Amount
Page 70 and 71: Note 30 Derivatives The Group had n
Page 72 and 73:
Note 33 Secured Liabilities (Amount
Page 75 and 76:
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
Page 81 and 82:
Accounting principles Depreciation
Page 83 and 84:
Note 2 Segment information (Amounts
Page 85 and 86:
Note 6 Employee benefits - pensions
Page 87 and 88:
Note 7 Intangible assets and tangib
Page 89 and 90:
Note 9 Secured debts and guarantee
Page 91 and 92:
Note 11 Consolidated items (Amounts
Page 93 and 94:
Beerenberg Corp AS Auditing report
Page 95:
BEERENBERG Corp. AS T +47 55 52 66
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Note 1 - Beerenberg

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