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REPORT FOR 1ST QUARTER 2006

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HIGHLIGHTS FOR THE 1ST QUARTER
- Revenues were 935.9 million
- EBITDA was 391.5 million
- Operating profit (EBIT) was 267.8 million
- Profit before tax was 177.1 million
- Net profit was 172.1 million
- Three year contract secured for
Blackford Dolphin
- Early redemption of the `FOE 01` bonds
of NOK 760 million
- New 7 years credit facility of USD 600
million in place
- The offshore market continues to be
strongHIGHLIGHTS FOR THE 1ST QUARTER
- Revenues were 935.9 million
- EBITDA was 391.5 million
- Operating profit (EBIT) was 267.8 million
- Profit before tax was 177.1 million
- Net profit was 172.1 million
- Three year contract secured for
Blackford Dolphin
- Early redemption of the `FOE 01` bonds
of NOK 760 million
- New 7 years credit facility of USD 600
million in place
- The offshore market continues to be
strong

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