Note 1 - Beerenberg

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Beerenberg Corp AS Auditing report – part 2 Independent auditor's report 2012 Beerenberg Corp. AS Opinion on the separate financial statements In our opinion, the parent company’s financial statements are prepared in accordance with the law and regulations and give a true and fair view of the financial position of Beerenberg Corp. AS as at 31 December 2012, and of its financial performance and its cash flows for the year then ended in accordance with the Norwegian Accounting Act and accounting standards and practices generally accepted in Norway. Opinion on the consolidated financial statements In our opinion, the consolidated financial statements are prepared in accordance with the law and regulations and give a true and fair view of the financial position of Beerenberg Corp. AS and its subsidiaries as at 31 December 2012, and of its financial performance and its cash flows for the year then ended in accordance with International Financial Reporting Standards as adopted by the EU. Report on Other Legal and Regulatory Requirements Opinion on the Board of Directors’ report Based on our audit of the financial statements as described above, it is our opinion that the information presented in the Board of Directors’ report concerning the financial statements, the going concern assumption and the proposal for the allocation of the profit is consistent with the financial statements and complies with the law and regulations. Opinion on Accounting Registration and Documentation Based on our audit of the financial statements as described above, and control procedures we have considered necessary in accordance with the International Standard on Assurance Engagements (ISAE) 3000, «Assurance Engagements Other than Audits or Reviews of Historical Financial Information», it is our opinion that the management has fulfilled its duty to produce a proper and clearly set out registration and documentation of the company’s accounting information in accordance with the law and bookkeeping standards and practices generally accepted in Norway. Bergen, 24 April 2013 KPMG AS Ståle Christensen State Authorized Public Accountant [Translation has been made for information purposes only] p. 2 / 2 92 Beerenberg CORP. AS Group group accounts 2012
BEERENBERG Corp. AS T +47 55 52 66 00 | F +47 55 52 66 01 E post@beerenberg.com | Visitors address Kokstaddalen 33 P.O.Box 273 Slåtthaug, N-5851 Bergen, Norway www.beerenberg.com
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Beerenberg Corp. AS & beerenberg Co
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Contents Our VisIon 3 Management re
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4 Beerenberg CORP. AS Group group a
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Offshore Offshore Market Market by
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Production by lifecycle Production
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10 Beerenberg CORP. AS Group group
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Management report Technology and de
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Management report International act
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Management report Organisational ri
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The Beerenberg Corp. AS board of di
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Tore Angelskår Roger Kjeilen Tore
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The profit for the year totalled NO
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The group has a long-term goal of e
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Beerenberg Corp. AS Group Group Acc
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Note 1 Beerenberg Corp. AS is a lim
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Note 3 | Accounting principles Clas
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Note 3 | Accounting principles Inta
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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
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: Beerenberg Corp AS Auditing report
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Note 1 - Beerenberg

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