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Capital Market Day

October 19th 2007

Radisson SAS Hotel Norge

Mooring Installation

DOF Subsea total capabilities

Managing Director

Harald Vormedal

SEMAR AS

Table of Contents

Short presentation of Semar AS

References in Marin Operation Projects

DOF Group Total Capabilities

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Presentation of SEMAR

Established 1980

Comprehensive experience in the planning, engineeringand execution of marine operations.

Growing and nurturing of intellectual capital by activetransfer of experience and learning.

Combination of sophisticated marine engineering withexperience from construction and marine operations.

Presentation of SEMAR

The employees (38) consist of graduate Master Engineers and Mariners, working in the same enviroment.

Short distance (same office) between complicated marine and structural computer analyses and long constructionand offshore installation experience.

Concern for HSE (Health, Safety and Environment), developed procedures in safe anchor handling.

Emloyees participated in developing the DNV standard Recommended Practice for Marine Operations'

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References

Frame Agreements:

StatoilHydro ASA (Subsea engineering and projectassistance)

Shell Norge ASA (Assistance marine operation and rig moves)

Sevan ( Assistance Marine analysis and personnel)

Aker Marine Contractors (Floatover, decommisioning etc)

APL (Installation of mooring systems and loading buoy)

Scana (Installation concepts of loading buoy)

Project ReferencesRig moves

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Project ReferencesHeavy Lift Vessel, transportation analysis

Project ReferencesSuction anchor design and installation

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Project ReferencesSuction anchor installation

Project ReferencesSnøhvit project, Cold Box transportation

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Project ReferencesFPSO, connection frame Odna field

ReferencesFPSO, mooring connection Odna field

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Project ReferencesBrent Spar decommisioningconcept development

Project ReferencesØresund Bridge projectInstallation of high bridge foundation

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GROUP CAPABILITIES

What can DOF Subsea and SEMAR do together?

ANCHOR AND MOORING SYSTEM INSTALLATION SUBSEA INSTALLATION FLOATOVER/ MATING TOW AND HOOK - UP

FPSOSEMISDrilling rigsLoading Bouy

TemplatesManifoldsJumpersPipesThrees, etc.

Floatover of Topsides Mating of Topsides

FPSOSEMISDrilling rigsLoading Bouy

GROUP CAPABILITIES

Mooring Installation ServicesNew market for DOF Subsea3 New Construction Vessels ordered, 2009 (2) and 2010

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GROUP CAPABILITIESAlternative metod

Launching method. Suction Anchor and mooring system using 2 Vessels

GROUP CAPABILITIESTowing of FPSO

Towing configuration. Ocean going, 3 Vessels

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GROUP CAPABILITIES

DOF Subsea and SEMAR co-operation

Overall Project Management - DOF SubseaDesign Engineering - SEMARFabrication - SEMARProcurement - DOF SubseaInstallation Analysis - SEMARInstallation Procedures - DOF Subsea & SEMAROffshore Execution - DOF Subsea & SEMARVessel/ AHT Supply - DOF Subsea

GROUP CAPABILITIESMarket