Note 1 - Beerenberg

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and high focus on HSE in order to prevent injury and accidents and to ensure consistent practice across the company. All new employees must undergo separate HSE training, and the company has produced an e-learning programme specifically for this purpose. HSE forms part of all training activities. In partnership with the company’s occupational health service, Beerenberg places great emphasis on health risk assessments and health monitoring surveys. The prevention of ergonomic and vibration injuries as well as hearing damage was a particular focus area in this respect in 2012. Beerenberg implemented a new preventive health regime in 2011 and continued to focus on providing adequate training in this regime in 2012. Co-operation with employee representatives has been good during 2012, both in established co-operation forums such as the works council (BU) and the working environment committee (AMU) in particular and through regular contact and dialogue in general. The board and the management should like to thank all employees for their good work in 2012. Equal opportunities Beerenberg operates in a highly male-dominated industry, and the company’s employees are predominantly male. Around 5% are female, and most of these work in administrative positions. The company aims to increase the proportion of female employees and recruits new staff with this in mind. There is currently one female member of the company’s board of directors (employee observer). Discrimination Beerenberg is working systematically to promote the objectives of the Anti-discrimination Act in its operations. The objectives of the act are to promote equal opportunities, ensure equal rights and prevent discrimination because of functional ability, ethnicity, national origin, descent, religion and creed. Relevant areas include recruitment, pay and working conditions, development and career opportunities and protection against discrimination. The external environment In 2012 the company updated its environmental accounts with simplified environmental indicators that will make it easier to correctly measure the company’s environmental performance in the future. The environmental accounts also include significant environmental aspects and other targets. The company’s environmental aspects have been reviewed and categorised according to location and project. As before, the impact generated by the company on the external environment largely relates to emissions of volatile organic compounds (VOCs) as a by-product of paint products and solvents. The impact on the environment of Beerenberg’s activities is a natural consequence of the company’s areas of business and of its operations. The company aims to optimise energy use on its own sites. The volume of VOC emissions is directly related to the volume of assignments and type of products being used. The company constantly tries to use alternative products with a lesser environmental impact (the substitution requirement). The company produces significant amounts of waste, but the negative environmental impact is greatly reduced by effective waste sorting and disposal (recycling of materials and energy). The company actively uses its environmental action plan to plan and implement environmental initiatives. In the last two years Beerenberg has published monthly environmental tips to help generate a comprehensive understanding of its environmental policy. Beerenberg is certified according to: NS-EN ISO 9001:2008 Quality management systems NS-EN ISO 14001:2004 Environmental management systems Certification is also taking place under OHSAS 18001:2007 Occupational health and safety management systems Please also see the separate HSE/Q annual report. It describes the results that have been achieved in 2012 along with identified improvement initiatives for 2013. Future prospects The company generated a very healthy profit seen in a historical perspective, and its financial position is considered to be robust. Its focus on the sale of engineering services and of in-house and patented service and product solutions will be intensified with a view to further boosting the company’s competitive edge and operating profits. The improvement processes implemented by the company in 2012, with associated margin growth, will be continued. 24
The group has a long-term goal of ensuring future growth through export with particular focus on the Gulf of Mexico, Brazil, West Africa, Kazakhstan and Central Asia. The group’s investments will primarily be in the form of strategic alliances to ensure local association and market access. Other markets for the company’s products and services are being constantly assessed. Investment in modern equipment and in a positive working environment will continue, with focus on productivity, the environment, quality and innovation. There will always be a degree of uncertainty about the future, and the coming years will see the industry face geographical, technological and commercial challenges. Beerenberg will meet these with HSE/Q expertise, financial strength, investment in technology and skills and a quest for new markets based on the group’s long-term strategy. Please refer to Note 29 for information about events after the balance sheet date that are deemed to be significant. The above-mentioned issues are described further in the management’s statement. Bergen, 19 marCH 2013 Board of Directors at Beerenberg Corp. AS Ketil Lenning Lars Marcusson Sebastian Ehrnrooth Marcus Planting-Bergloo Chairman Board member Board member Board member Einar Stene Johan P Andresen Morten H Walde Board member Board member CEO 25
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 23 and 24: Tore Angelskår Roger Kjeilen Tore
Page 25: The profit for the year totalled NO
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
Page 77 and 78:
Beerenberg Corp. AS Balance Sheet A
Page 79 and 80:
Beerenberg Corp AS Statement of Ca
Page 81 and 82:
Accounting principles Depreciation
Page 83 and 84:
Note 2 Segment information (Amounts
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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
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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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