REPORT FOR 3Q 2005

HIGHLIGHTS FOR THE 3RD QUARTER

- Revenues of 800.2 million
- EBITDA was 305.9 million
- Operating profit after depreciation
(EBIT) was 139.4 million
- Net result was 109.7 million
- New contracts secured for Belford
Dolphin, Bideford Dolphin, Borgland Dolphin,
Borgsten Dolphin and Bulford Dolphin with a
total contract value of USD 978 million
- All units in operation except Blackford
Dolphin which has commenced a deepwater
upgrade program with scheduled delivery spring
2007