G L O S S A R Y

1GlossaryGlossGlGl

BTM Buoyant Turret MooringDeveloped for typhoon or iceberg prone areas where a rapid disconnection/reconnection is required. The disconnectable part of the turret is a submerged buoy which supports thecrude oil and gas risers and the mooring legs. In the operating mode, the mooringbuoy is connected to the turret by a structural connector. The turret structure islocated in the forepeak of the tanker and supported on a weathervaning bearing.The turret extends up through the tanker with the reconnection winch, flowlineand control manifolds and fluid swivels located above the main deck. Thedisconnection and subsequent reconnection is carried out from the tankerwithout external intervention.

CALM Catenary Anchor Leg MooringA floating structure that performs the dual function of keeping a tanker mooredon a single point and transferring fluids (generally oil, gas or by-products) whileallowing the ship to weathervane. It consists of a circular floating buoy anchoredto the seabed by means of four, six or eight chain legs draped radially in acatenary curve. The bottom ends of the chains are fixed to the seabed by eitherconventional anchor legs or piles. The buoy itself is free to move up and down,sideways and in pitching and rolling motions. The tanker is moored by hawsersto a turntable attached through heavy-duty roller bearings to the top of the buoy.This turntable is free to rotate through 360 degrees and is fitted with piping,valves, mooring equipment, floating hose connections, navigation aids and, inmost cases, lifting facilities to support maintenance activities.

Condensates Liquids condensed from a gas stream, made up of a range of heavierhydrocarbons. For gas fields, condensate typically refers to the hydrocarbonliquid separated from the well stream fluid, which can be stabilised, stored andexported as a high value liquid product.

Crane vessel A ship-shape vessel with one crane or semi-submersible vessel with one or twocranes for lifting platform modules and structures at sea. The crane hoistingcapacities are substantial and range from 300 tons to 8000 tons. Cranes allow formoving the hook-load vertically and horizontally (in a 360 degree radius).Nowadays also frequently used to install heavy equipment on the seabed.In medium water depths the crane vessel is anchor-moored. In deepwater areasthe vessel is dynamically positioned.

Cryogenic Low temperature processing, generally sub zero. For LNG this can be as low asminus 162 degrees centigrade.

Technology creating value has been the motto of IHC Caland N.V. for several years. Sometimes however, theterms used to describe the Groups technology are not self-explanatory, and require clarification. Also certainof the Groups key products deserve a detailed description, which should not be included in the body of theAnnual Report for one particular year. Accordingly, this Glossary of technical terms and product descriptionshas been produced to ensure that key terms and products are clearly explained and understood. An explanationof some financial terms is included as well.

OFFSHORE OIL AND GAS ACTIVITIES

2DCU Dry Completion UnitA floating facility carrying surface completed wells, i.e. the xmas trees are locatedabove the surface of the sea, on the floater, as opposed to the seabed. The rigid pipes (tubing, casing etc.) that link the trees to the wells require hightension to avoid buckling. A key feature of a DCU is therefore the need forconstant tension to compensate for the floating heave motion.Generally, a DCU also carries basic drilling equipment to allow down-holeintervention on a tender assist mode. It can also feature a full drilling capability.

Deepwater More than 300 metres water depth.

Desulphatation The removal of sulphate ions from seawater prior to use as injection water. Thisoperation is required when the formation contains barium and strontium and toa lesser extent calcium to prevent re-agitation of sulphates which will causeplugging of the flow-path of the produced fluids from the reservoir.

D.p. Dynamic positioningA station keeping system for floating units which uses thrusters to compensatewind, wave and current forces in a dynamic controlled mode to keep the unit ona predetermined location and heading at sea.

Drill ship A ship-shape vessel for drilling and completing wells in medium to deepwaterapplications. The drilling equipment onboard of the ship enables drilling the well,running the protective casing in the well (preventing collapse of the drilled hole),and installation of the subsea xmas tree.In medium water depths the drill ship is anchor-moored. In deepwater areas theship is dynamically positioned.

Dry production trees See Surface (xmas) trees.

DSV Diving Support VesselA dedicated vessel, most frequently d.p., for assistance of subsea diving andinstallation work.

DTU Dry Tree UnitA motion stabilized floating vessel that supports vertical steel risers from sea floorwell-heads providing well access for drilling or work-over operation.

3Dwt Dead weightThe total weight of cargo, fuel, fresh water, stores and crew that a ship can carrywhen immersed to her load line.

E/P or E&P Exploration and Production

EPCI Engineer, Procure, Construct, InstallA form of contracting that provides for turnkey delivery of facilities.

FEED Front End Engineering and DesignA study used to analyse the various technical options for new field developmentswith the objective to define the facilities required.

Flowlines Pipelines carrying reservoir fluid on the seabed from wells to risers.

FPDSO Floating Production, Drilling, Storage and Offloading systemFor a description refer to the FPSO, add the capability to drill, complete andworkover wells from this facility. Generally this term applies to systems receivingthe production stream from several subsea completed wells and where the unit iscapable of intervention on (or drilling of) one well while production continues toflow from the others.The Group has patented a concept to accommodate dry trees on board the FPDSO.Also see TLD.

FPSO Floating Production, Storage and Offloading systemAn FPSO is a floating facility installed above or close to an offshore oil and gasfield to receive, process, store and export hydrocarbons.It consists of a floater (a newbuild or converted tanker) permanently moored onsite. The cargo capacity of the vessel is used as buffer storage for the oil produced.The process facilities (topsides) and accommodation are installed on the floater.The mooring configuration may be of the spread mooring type or a single pointmooring system, generally a turret. The high pressure mixture of produced fluids is delivered to the process facilitiesmounted on the deck of the tanker, where the oil, gas and water are separated.The water is discharged overboard after treatment to eliminate hydrocarbons.The stabilised crude oil is stored in the cargo tanks and subsequently transferredinto shuttle tankers either via a buoy or by laying in tandem to the FPSO. The gasis used for enhancing the liquid production through gas lift, and for energyproduction onboard the vessel. The remainder is either flared, or compressed andtransported by pipeline to shore or reinjected into the reservoir.

Fractionation The process to separate a mixed hydrocarbon stream by distillation, making useof the difference in boiling points of the components to be separated. The lowerboiling point components are recovered from the top of the fractionation column,and the heavier boiling point components from the bottom. This process is usedin LPG processing systems to separate products such as propane and butane.

FSRU Floating storage and re-gasification unit, a floating vessel that has the capabilityto be permanently moored at a site where it receives LNG from carriers, storesand re-gasifies the LNG at a rate required by natural gas users.

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GAP Gravity Actuated PipeA concept developed by the Group, consisting of a bundle of mid water pipesfloating between surface and seabed to minimise pipeline length and temperatureproblems in deepwater developments. These pipes typically connect a DCU to afloating production facility and carry the flow of gases, oil, water and controlsignals over large distances. The bundle is stabilised vertically and horizontally bymaintaining tension at each end, created by gravity from suspended masses.

Gas and water injection To enhance the crude oil recovery by maintaining sufficiently high reservoirpressure throughout the production life, it is becoming usual to inject waterand/or gas to replace the produced volumes. This reinjection performed abovereservoir pressure requires heavy-duty pumps and compressors consuming largeamounts of energy. The associated production gas is normally used as fuel.

Gas lift It is becoming normal practice on FPSOs, particularly for heavy crudes, tofacilitate the flow of live crude from the wells by injecting gas either at xmas treelevel or down-hole to lower the back pressure on the wells. In fact, the lift gas isthe associated gas from the field, which is treated, compressed and re-circulatedinto the flow system.

GTL Gas To Liquids conversionA process, based on Fischer Tropsch technology, which polymerises several gasmolecules into a longer chain hydrocarbon molecule that can exist in liquid phaseat ambient conditions. This process is being developed as a competitor to LNG forcommercialisation of remote gas reserves.

HAZID/HAZOP HAZard IDentification/HAZard and OPerability analysisSystematic design review methods to identify and address hazards to ensure thatthe necessary safety measures to eliminate or mitigate hazards are incorporatedin the design and operation of the unit.

Heave compensation system Working offshore often includes working in inclement weather and rough seas.The lifting and lowering of loads from barges and vessels is affected by theseconditions and can cause uncontrolled upswing movements in vertical direction,which can lead to damage of the load. To suppress the movements of the load amechanical system, often referred to as heave compensation system, is devisedto dampen and control vertical movements. Two methods of heave compensationexist; passive systems and active systems.

Heavy load skidding system A system specially developed by MSC to move a heavy drilling package on thedeck of a jack-up drilling rig.

The cantilever and drill floor structures have been combined to one fixed package,which can be skidded both longitudinally and transversely relative to the deck ofthe drilling jack-up.

The main advantages of the system are a larger reach of the drilling tower,simplified handling of drilling equipment and minimum obstruction of the deckof the drilling jack-up.

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Hydrocarbons Oil, gas and other chemical components carrying hydrogen and carbon atoms.

Jack-up drilling rig A mobile drilling unit, which can elevate itself well above the sea surface on threeor more legs to become a stable seabed supported drilling platform. Drilling jack-ups can operate in water depths up to 150 metres. On most jack-up drilling rigsthe drill tower is placed on cantilever beams such that wells supported by anadjacent platform can be drilled in work-over mode by skidding the cantileverover that fixed platform.

J-lay tower A pipe-lay method used in deepwater to allow the pipe to leave the pipe-lay unitat a vertical departure angle. The tower supports the up-ended pipes.

LNG Liquefied Natural GasNatural gas (mainly methane) refrigerated to reach liquid phase suitable fortransportation in specialised vessels (LNG carriers).

LPG Liquefied Petroleum GasButane and propane mixture, separated from well fluid stream. LPG can betransported under pressure in refrigerated vessels (LPG carriers).

Manifolds A pipe spool in which a number of incoming pipes are combined to feed to acommon output line.

MARPOL MARine POLutionInternational regulations produced by the International Convention for thePrevention of Pollution from Ships, 1973, as adopted by the InternationalConference on Marine Pollution convened by the International MaritimeOrganisation, which is the regulatory body in respect of pollution by oil, noxioussubstances, harmful substances in packaged forms, sewage and garbage.

Mid water pipe A pipeline to transfer fluids or gases between two floating facilities when ultra-deepwater makes sea bottom pipe configurations uneconomical or technicallyunacceptable. Typically, a mid water pipe would be configured at a depth of100 to 300 metres.

MMSCFD Millions of standard cubic feet per day.A commonly used unit to measure gas flows.

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MPV Multi-Purpose VesselA dedicated vessel that is able to perform multiple tasks for offshore installations.

MSV Multi-Service VesselA dedicated vessel which is able to perform multiple maintenance services onplatforms, floaters, subsea wells, pipelines and risers.

Non-flaring operations Operations where the produced gas from an oil field is not allowed to be flaredand therefore either has to be transported, used as a fuel source or reinjected.

Pipe-lay barge A flat-bottom, ship-shape or semi-submersible vessel for the offshore installationof subsea pipelines. Individual pipe joints are welded together on the vessel (tomake a continuous string) and subsequently laid onto the seabed in a controlledmanner.

In medium water depths the pipe-lay barge is anchor-moored. In deepwater areasthe barge is dynamically positioned.

Risers Steel or flexible pipe, which transfer well fluids from the seabed to the surface.

ROV Remote Operated VehicleAn underwater robot.

SALM Single Anchor Leg MooringThe configuration of a SALM is highly elastic over a very wide range ofwaterdepths. This inherent elasticity enables cargo transfer operations tocontinue under adverse weather and sea-state conditions. This built-in resiliencyalso enables the SALM to yield in the event of collision thus minimising impactforces and structural damage.A SALM can also be employed as an unmanned tanker loading or dischargeterminal with multiple fluid transfer circuits.

SCR Steel Catenary Riser A steel pipe hung in a catenary configuration from a floating vessel in deep waterto transmit flow to or from the sea floor.

SeaStar See TLP + mini TLPs.

Semi-submersibles A floating unit, with its deck supported by columns to enable the unit to becomealmost transparent for waves and provide a favourable motion behaviour.

7Spar A deep draft cylindrical and vertical floating production unit (single column) withpossible storage for crude oil in small quantities inside the column. This facility,although not heave-restrained, can accommodate surface completed wellheads.

SPM Single Point Mooring system (e.g. CALM)

Spread mooring In the case of a spread moored FPSO/FSO, the tanker or process barge is mooredin a fixed heading with up to 12 anchor lines distributed over the bow and sternof the vessel, to anchor points situated on the seabed around the vessel. Thechosen heading is determined by the prevailing sea and weather conditions. Thespread moored FPSO/FSO can only be used on locations where currents, wavesand winds are very moderate or normally come from a prevailing direction.With this type of FPSO/FSO no turret or swivel stack is required, as the vesseldoes not change heading in relation to the risers connecting the tanker with thewells on the seabed. This means that a greater flexibility exists in the number ofrisers from the wells and manifolds on the seabed that can be connected onto theFPSO/FSO than would be the case with a turret moored vessel. One disadvantageis however that for spread moored FPSOs/FSOs a separate tanker loading facilityshould be provided, as the offtaking tanker cannot safely moor in tandem to theFPSO/FSO, due to changing current, wind and wave direction, possibleinterference with the FPSOs/FSOs anchor lines, and high risk of collision.

STL Submerged Turret Loading

STP Submerged Turret Production

Subsea facilities Sub-sea xmas trees, manifolds, control boxes, valves, pipelines, risers, umbilicals,cables, etc.

Subsea (xmas) trees The xmas tree completing the well is located on the seabed.

Surface (xmas) trees The xmas tree completing the well is located either on a fixed platform (shallowwater) or on a floating platform (deepwater DCU) such as a SeaStar, Spar, TLDor TLP.

Swivel stack The component on a full weathervaning FPSO that allows for continuous transferof fluids, gas, controls and power from the static mooring to the facilities on therotating part of the FPSO.

SYMO Soft Yoke Mooring and OffloadingCombines a solid structural mooring with a hard-piped/swivels fluid transfersystem. It can be connected and operated in much higher sea states than otherLNG offloading systems. The SYMO can be used in a variety of LNG transferapplications: The SYMO is used to moor an LNG carrier in tandem to the stern of an FLNG

(Floating LNG production system) offshore or at the stern of an FSRU near shore.

The SYMO is used to moor temporarily an LNG carrier to an import terminalin shallow water. LNG is either transferred to shore via a cryogenic pipeline oralternatively re-gasification takes place on the terminal allowing high-pressuregas to be exported.

8TLD Tension Leg Deck A passive system for tensioning risers on floating deepwater production facilities.The concept uses gravity as the tensioning means unlike other systems such asspars or TLP's which use buoyancy. This unique system, proprietary to SBM, isbeing developed for integration into FPSO's.

TLP + mini TLPs Tension Leg PlatformA floating platform, positioned and stabilised by at least three separated, verticaltendons anchored to the seabed. The tendons are tensioned using the buoyancy ofthe underwater hull of the platform. Subjected to wave, wind and current action,the platform moves sideways, but remains horizontal due to the parallel actionsof the tendons. The vertical motion (heave) is eliminated and the facility istherefore suitable for surface completion of the wells. SeaStar developed by Atlantia Offshore, is the state-of-the-art example of anTLP, using a monocolumn structure as opposed to multicolumn (typically four)developed by ABB, McDermott, Modec, etc.

Topsides See FPSO.

Turnkey supply Delivery of an operational system.

Turret mooring The turret system is integrated into or attached to the hull of the tanker, in mostcases near the bow, and allows the tanker to weathervane around it and therebytake up the line of least resistance to the combined forces of wind, waves andcurrent. A high pressure oil and gas swivel stack is mounted onto the mooringsystem. This swivel stack is the connection between the risers from the subseaflowlines on the seabed to the piping onboard the vessel. It allows the flow of oil,gas and water onto the unit to continue without interruption while the FPSOweathervanes. For reasons of size and cost, the number of swivels is kept to aminimum, and therefore the flow of oil and gas has to be manifolded in the turretarea, particularly when the system produces from a large number of wells.The turret mooring and high pressure swivel stack are thus the essentialcomponents of an FPSO.

ULCC Ultra Large Crude CarrierOil transportation vessel from 320,000 to 600,000 dwt.

Ultra-deepwater More than 1000 metres water depth.

Umbilicals Flexible cables carrying electrical and instrument wiring, hydraulic tubing andchemical tubing.

VLCC Very Large Crude CarrierOil transportation vessel from 200,000 to 320,000 dwt.

Xmas trees See Subsea (xmas) trees.

Internal turret External turret

9Boosters Pump-station, used when the discharge distance is too great for the dredgers ownpump capacity.

Cable layer A vessel capable of laying trans-ocean communication cables, or power cables.

Cutter suction dredger Stationary dredger using a special cutting device for the loosening of the soil infront of the suction inlet, and moored by means of anchors and/or spuds (poles).Large centrifugal pumps transport the dredged soil as a fluid mixture (slurry)through a pipeline to the dumping site, or discharged into barges. Specificapplications for this equipment are the dredging of channels and rivers, thebuilding of dams, roads and reclamation sites for industrial, airport or living areadevelopment.The main advantages of this type of vessel are its ability to operate in shallowwater and to dredge a wide range of materials including rocks, as well as beingable to produce a uniform bottom level.

DTPS Dredge Track Presentation System

Fully intelligent integrated Combined fully automatic control of navigation and dredging operation.bridge and dredging control

Grab hopper dredger A grab hopper dredger is a self-propelled vessel with a hopper. The hopper will beloaded by means of an on board placed grab crane. Unloading of the hopper takesplace by means of bottom doors. The grab hopper dredger is ideal for maintainingsmall harbours and for working along the quays and other constructions.

Hydraulic dredgers Dredgers with centrifugal pumps for the suction and transport of the dredged soilas a slurry. For the loosening of the soil in front of the suction head various typesof equipment are used such as cutters, wheels, dragheads and high pressure waterjets. Examples are trailing suction hopper dredgers and cutter suction dredgers.

Hydrohammer Offshore and onshore hydraulic pile hammers.

DREDGER/SPECIALISED SHIPBUILDING ACTIVITIES

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IHC Beaver standard IHC Hollands range of standard types of cutter suction dredgers.

Mechanical dredgers Equipment with which the soil is loosened and transported by mechanical meanssuch as grabs, dippers and buckets.Various types are bucket dredgers, backhoe dredgers and grab cranes.

Offshore supply vessel A vessel for assistance to and supplying of offshore production or explorationunits.

Product tanker A tanker used for transporting various products.

Ro-Pax ferry A vessel for transport of cars and/or trucks which can drive on and off the vesselas well as for transport of passengers with passenger accommodation (cabins).

Ro-Ro ferry A vessel for transport of large lorries and cars, which drive on and off the vesseland are parked on special car decks during transport.

Rpm Revolutions per minute.

Splittrail The IHC Splittrail is an example of this type of trailing suction hopper dredger.The halves are swung apart to permit discharge and are then closed and securedwith the aid of hydraulic rams.

Submerged dredge pump Pump under water, working close to the sea or river bed.

Suction tube Pipe through which slurry is transported into the hopper of a dredger.

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Trailing suction hopper A dredger used to remove and transport soil from water bottoms by dragging adredger long suction tube with a draghead over the bottom, loosening the soil in front of

the suction head. Big centrifugal pumps transport the dredged soil as a slurry tothe hopper, from which it is later dumped (released via the vessels keel) orpumped (through a pipeline or rainbowed) to a reclamation area.Specific activities in this field includes the construction or deepening of harboursand waterways.The main advantages of this type of vessel are its relative immunity to weatherand sea conditions and the ability to transport soil over long distances.Furthermore it can operate independently with hardly any interference to othershipping traffic. A unit with a capacity of around 20000m3 or more is oftenreferred to as a jumbo hopper dredger.

Tunnelling equipment Tunnelling equipment or more precisely; a tunnel boring machine is a machinethat excavates underground tunnels (with a diameter of 6 up till 15 meters) forhighways or railways.

Wheel dredger The wheel dredger, like its conventional counterpart the cutter suction dredger, isa hydraulic dredger, which implies that the spoil is drawn up with the aid of acentrifugal pump.

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FINANCIAL TERMS

EBIT Earnings (net profit) Before Interest, Taxation and minority interest.(Same as Operating profit.)

EBITDA Earnings (net profit) Before Interest, Taxation, minority interest, Depreciationand Amortisation. (Same as Operating profit plus depreciation plus amortisation.)

EPS Earnings Per Share Net profit divided by the weighted average number of shares during the year.

EV Enterprise ValueMarket capitalisation plus long-term debt minus cash and cash equivalents.

Hedging Fixing ahead (generally long-term) interest rates or foreign currency exchangerates, using a bank as counterparty, in order to eliminate exposures.

Interest cover ratio A ratio that reflects a companys ability to meet its obligation to pay interest. The number of times the net interest expense is covered by EBIT or EBITDA.

Liquidity ratio A ratio that reflects a companys ability to meet its short-term financialobligations. Current assets divided by current liabilities.

Market capitalisation A measure of corporate size. Number of shares issued multiplied by share price.

Over/underrecovery of A positive or negative profit and loss account movement due to production and/orindirect costs sales volumes being higher or lower than the budgets used to recover (allocate)

indirect costs.

P/E ratio Price/Earnings ratioA ratio that reflects how expensive a stock is.Share price divided by earnings per share.

Residual value That part of the investment in an FSO or FPSO which has not been amortised atthe end of its initial guaranteed contract.

ROCE Return On average Capital Employed A key statistic reflecting the rate of return that a companys management hasobtained, and thus the efficiency with which capital is being utilised to generaterevenue. Net profit plus interest expense and minority interests divided by the weightedaverage capital employed for the year, taking into account the effect of dividendspaid.

ROE Return On average Equity A key statistic reflecting the rate of return that a companys management hasobtained, and thus the efficiency with which equity is being utilised to generaterevenue.Net profit divided by the weighted average equity for the year, taking into accountthe effect of dividends paid.

Solvency ratio A ratio that reflects a companys ability to meet its long-term financial obligations.Shareholders equity divided by total assets.

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Value of production Total output of the Group, including delivered orders, the value added to tangiblefixed assets (relates mainly to FPSOs/FSOs in the lease fleet), plus the increaseor decrease in stocks and work in progress.

WACC Weighted Average Cost of CapitalThe overall cost of the capital employed, consisting of the after-tax interest cost of long-term debt and the cost of equity, calculated as the risk-free rate of returnon long-term government bonds, plus the market risk premium multiplied by thecompany stocks beta (indicating relative volatility of the stock versus the marketindex).

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FSO XV DomyField : OML100 + OML102, NigeriaClient : Elf NigeriaDuration : Long-term, starting February 1993,

subject to nine months noticeStorage capacity : 2,048,870 bbls

FSO Nkossa I (Oil)Field : Nkossa, CongoClient : Elf CongoDuration : 10 years starting June 1996Storage capacity : 2,020,000 bbls

FSO Nkossa II (LPG)Field : Nkossa, CongoClient : Elf CongoDuration : 10 years starting November 1996Storage capacity : 78,000 m3

FPSO Tantawan Explorer Field : Tantawan, ThailandClient : Chevron, ThailandDuration : 111/2 years starting January 1997Storage capacity : 1,000,000 bblsMaximum throughput : 50,000 bbls oil per day

150 mmscfd gas

FPSO FirenzeField : Aquila, ItalyClient : AGIPDuration : 51/2 years starting end 1997Storage capacity : 550,000 bblsMaximum throughput : 18,900 bbls oil per day

SBM PRODUCTION CONTRACTORS

LEASE/OPERATE CONTRACTS 2002

FPSO Rang Dong IField : Rang Dong, VietnamClient : JVPCDuration : 10 years starting mid 1998 Storage capacity : 1,000,000 bblsMaximum throughput : 53,000 bbls oil per day

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FSO OkhaField : P.A. Sakhalin, RussiaClient : Sakhalin Energy (Shell)Duration : 41/2 years starting mid 1999Storage capacity : 1,000,000 bbls

FSO YetagunField : Yetagun, MyanmarClient : Premier OilDuration : 15 years starting May 2000Storage capacity : 625,000 bbls

FPSO KuitoField : Kuito, AngolaClient : Chevron AngolaDuration : 5 years starting end 1999Storage capacity : 1,400,000 bblsMaximum throughput : 100,000 bbls oil per day

FPSO EspadarteField : Espadarte, BrazilClient : PetrobrasDuration : 13 years starting June 2000Storage capacity : 1,900,000 bblsMaximum throughput : 100,000 bbls oil per day

FPSO JamestownField : Okpoho/Okono, Nigeria (First Phase)Client : AGIP/NPDCDuration : 18 months starting December 2001Storage capacity : 200,000 bblsMaximum throughput : 20,000 bbls oil per day

FPSO BrasilField : Roncador, BrazilClient : PetrobasDuration : 51/2 years starting October 2002Storage capacity : 1,700,000 bblsMaximum throughput : 90,000 bbls oil per day

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FPSO FalconField : Yoho, NigeriaClient : ExxonMobilDuration : 6 years starting November 2002Storage capacity : 2,100,000 bblsMaximum throughput : 90,000 bbls oil per day

FPSO MystrasField : Okpoho/Okono, Nigeria (Second Phase)Client : AGIP/NPDCDuration : 7 years starting mid 2003Storage capacity : 1,000,000 bblsMaximum throughput : 46,000 bbls oil per day

FPSO EagleField : Zafiro, Equatorial GuineaClient : ExxonMobilDuration : 7 years starting August 2003Storage capacity : 1,900,000 bblsMaximum throughput : 110,000 bbls oil per day

FPSO AtlanticField : Xikomba, AngolaClient : ExxonMobilDuration : 7 years starting November 2003Storage capacity : 1,700,000 bblsMaximum throughput : 90,000 bbls oil per day

FPSO Sanha (LPG)Field : Sanha, AngolaClient : ChevronDuration : 8 years starting 2005Storage capacity : 135,000 m3

Maximum throughput : Butane : 1250 T per dayPropane : 1780 T per day

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Single Buoy Moorings Inc.5 Route de Fribourg, B.P. 152, 1723 Marly, SwitzerlandTelephone (+41) 26 439 9920Fax (+41) 26 439 9939Homepage www.singlebuoy.comE-mail ihcinc@singlebuoy.com

Single Buoy Moorings Inc., Engineering and Fleet Management Office24 Avenue de Fontvieille, B.P. 199, MC 98007 Monaco CedexTelephone (+377) 92 05 15 00Fax (+377) 92 05 32 22Homepage www.singlebuoy.comE-mail marketing-info@singlebuoy.com

Single Buoy Moorings Inc.,Singapore Representative Office152 Beach Road, #13-04, Gateway East, Singapore 189721Telephone (+65) 292 9311Fax (+65) 296 8975E-mail sbminc@mbox3.signet.com.sg

SBM France S.A.58 Avenue dIna, 75116 Paris, FranceTelephone (+33) 1 47 20 90 84Fax (+33) 1 40 70 19 81E-mail yves.guguen@singlebuoy.com

SBM-IMODCO Inc.17420 Katy Freeway, Suite 200, Houston, TX 77094, USATelephone (+1) 281 828 2800Fax (+1) 281 828 2828Homepage www.sbmimodco.comE-mail mooringsystems@sbmimodco.com

Atlantia Offshore Limited1177 West Loop South, Suite 1200, Houston, TX 77027-9083, USATelephone (+1) 713 850 8885Fax (+1) 713 622 4236Homepage www.atlantia.comE-mail info@atlantia.com

IHC Gusto Engineering B.V.Karel Doormanweg 66, 3115 JD Schiedam, the NetherlandsTelephone (+31) 10 232 0000Fax (+31) 10 232 0101Homepage www.ihcgusto.nlE-mail gusto@ihcgusto.nl

Marine Structure Consultants (MSC) B.V.Karel Doormanweg 66,3115 JD Schiedam, the NetherlandsTelephone (+31) 10 232 0800Fax (+31) 10 232 0801Homepage www.mscoffshore.nlE-mail msc@mscoffshore.nl

IHC Holland NV (main office)Molendijk 94, P.O. Box 204, 3360 AE Sliedrecht, the NetherlandsTelephone (+31) 184 411555Fax (+31) 184 411884Homepage www.ihcholland.comE-mail info@ihcholland.com

IHC Holland NV DredgersSmitweg 6, P.O. Box 1, 2960 AA Kinderdijk, the NetherlandsTelephone (+31) 78 691 0911Fax (+31) 78 691 3866E-mail info@dredgers.ihcholland.com

IHC Holland NV Beaver DredgersMolendijk 94, P.O. Box 3, 3360 AA Sliedrecht, the NetherlandsTelephone (+31) 184 411555Fax (+31) 184 411705E-mail corr@beaverdredgers.ihcholland.com

IHC Holland NV Parts & ServicesSmitweg 6, P.O. Box 50, 2960 AA Kinderdijk, the NetherlandsTelephone (+31) 78 691 0911Fax (+31) 78 691 0439E-mail info@partsservices.ihcholland.com

IHC Holland NV Engineering & RenovationMolenstraat 24, P.O. Box 2, 2960 AA Kinderdijk, the NetherlandsTelephone (+31) 78 691 0911Fax (+31) 78 691 0231E-mail info@engineering.ihcholland.com

IHC Holland NV MiningMolendijk 94, P.O. Box 3, 3360 AA Sliedrecht, the NetherlandsTelephone (+31) 184 411555Fax (+31) 184 411705E-mail mining@mining.ihcholland.com

IHC Systems BVIndustrieweg 30, P.O. Box 41, 3360 AA Sliedrecht, the NetherlandsTelephone (+31) 184 431922Fax (+31) 184 431505Homepage www.ihcsystems.comE-mail management@ihcsystems.com

ADDRESSES OF PRINCIPAL GROUP COMPANIES

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MTI Holland BVSmitweg 6, P.O. Box 8, 2960 AA Kinderdijk, the NetherlandsTelephone (+31) 78 691 0322Fax (+31) 78 691 0331Homepage www.mtiholland.comE-mail info@mtiholland.com

IHC Holland NV LagersmitSmitweg 6, P.O. Box 5, 2960 AA Kinderdijk, the NetherlandsTelephone (+31) 78 691 0472Fax (+31) 78 691 0477E-mail info@lagersmit.ihcholland.com

IHC Hydrohammer BVSmitweg 6, P.O. Box 26, 2960 AA Kinderdijk, the NetherlandsTelephone (+31) 78 691 0302Fax (+31) 78 691 0304Homepage www.ihchydrohammer.comE-mail ihc@hydrohammer.ihcholland.com

IHC Handling Systems V.O.F.Distributieweg 3, P.O. Box 493, 2600 AL Delft, the NetherlandsTelephone (+31) 15 251 2000Fax (+31) 15 251 2005E-mail sales@ihchs.nl

Hytop B.V.Industrieweg 30, P.O. Box 335, 3360 AH Sliedrecht, the NetherlandsTelephone (+31) 184 431933Fax (+31) 184 431616Homepage www.hytop.comE-mail info@hytop.nl

IHC Tunnelling Systems B.V.Molenstraat 24, P.O. Box 8, 2960 AA Kinderdijk, the NetherlandsTelephone (+31) 78 691 0765Fax (+31) 78 691 0912Homepage www.ihcts.comE-mail info@its.ihcholland.com

IHC Delta Shipyard B.V.Molendijk 94, P.O. Box 51, 3360 AB Sliedrecht, the NetherlandsTelephone (+31) 184 436301Fax (+31) 184 436320Homepage www.ihcdeltashipyard.comE-mail info@deltashipyard.ihcholland.com

MerwedeRivierdijk 586, P.O. Box 5, 3370 AA Hardinxveld-Giessendam, the NetherlandsTelephone (+31) 184 677300Fax (+31) 184 677301Homepage www.merwede.comE-mail shipyard@merwede.com

Merwede ShipyardRivierdijk 586, P.O. Box 5, 3370 AA Hardinxveld-Giessendam, the NetherlandsTelephone (+31) 184 677300Fax (+31) 184 677301Homepage www.merwede-shipyard.comE-mail shipyard@merwede.com

Merwede Interior BuildersHelling 7, P.O. Box 5,3370 AA Hardinxveld-Giessendam, the NetherlandsTelephone (+31) 184 677300Fax (+31) 184 612343Homepage www.merwede-interior-builders.comE-mail info@mwinterior.com

Merwede RepairRivierdijk 509, P.O. Box 5, 3370 AA Hardinxveld-Giessendam, the NetherlandsTelephone (+31) 184 677300Fax (+31) 184 677456Homepage www.merwede-repair.comE-mail repair@merwede.com

Merwede ValvesHelling 5,3370 AA Hardinxveld-Giessendam, the NetherlandsTelephone (+31) 184 677300Fax (+31) 184 611210Homepage www.mwvalves.comE-mail info@mwvalves.com

Merwede DesignUl.Prace 6945 01 Komarno, SlovakiaTelephone (+421) 35 7705960Fax (+421) 35 7705961Homepage www.merwede-design.comE-mail design@merwede.com

van der Giessen-de Noord N.V.Schaardijk 23, P.O. Box 1, 2920 AA Krimpen aan den IJssel, the NetherlandsTelephone (+31) 180 591200Fax (+31) 180 518180Homepage www.gn.nlE-mail management@gn.nl

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van der Giessen-de Noord Maritime Services Division B.V.Zuiderstek 30, P.O. Box 13, 2950 AA Alblasserdam, the NetherlandsTelephone (+31) 78 691 3700Fax (+31) 78 691 3514E-mail info@gn-maritime.nl

NKI Group B.V.Industriestraat 3-5, P.O. Box 222, 5100 AE Dongen, the NetherlandsTelephone (+31) 162 384800Fax (+31) 162 315657Homepage www.nkigroup.comE-mail info@nkigroup.com

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