new opportunities

2011 - new opportunities

2010 has now ended and it turned out well, in the end.

Like everyone else, we were a little sceptical regarding 2010, but this proved to be unfounded. After a quiet period in late winter and early spring orders suddenly started rolling in thereafter, throughout the group. It was especially satisfying that IKM Subsea AS received their first contracts on the Norwegian shelf last year. It has been a long road for us to get into the ROV market, but now we are on the right track and the feedback from our clients, now that they have become familiar with our ROVs, is very good!

Most satisfying of all was the way we, as an organisa-tion, came through the effects from the financial crisis in 2010. We have faced challenges, but they have been resolved in a good way. The ability to tackle adversity is important and we have shown that we can! We actually increased our turnover in 2010, and this was achieved without our friends in the Haaland Group. Excellent! We are looking forward to 2011 with joy and excite-ment. It will be a year with lots of opportunities.

I would also this year, like to thank our employees for a job well done in 2010. My hope is that this can be continued in 2011 so that we will have another good year based on the possibilities we now have!

I would also like to thank all our clients for the

confidence they have shown in us. In 2010 our turnover was approx. NOK 2,700 million, a result we should be satisfied with considering the financial crisis. Our clients pay (although some a little late) which must in itself be a stamp of quality and vote of confidence. Very positive! In conclusion, I would like to remind everyone that we are conscious of our HSE philosophy and HSE targets in everything we do. With sick leave under 5 % and one LTA our performance is good, but we still have a way to go. Keep up the good work and have this in the back of your mind, the results will be even better!

HSE Policy

• Zero injuries is our overall objective.

• We shall instill trust and confidence among our customers and employees. • We shall follow acts and regulations, including ethic code of conduct. • HSE is the most important internal work area.

• No operation has priority over safety.

• HSE is a line responsibility in the entire organisation.

• Everyone is responsible for their own safety and the safety of others. • We shall prevent pollution and reduce negative environmental impact. • We shall reduce the amount of waste and optimise the use of resources.

We will achieve this through continuous improvement of all processes and systems established in each organisation. Together with our clients and suppliers we shall follow statutory regulations and continually improve our procedures and routines in environmental management.

We believe that social commitment will result in savings for our clients, and new business possibilities for the IKM Group. Each IKM company shall establish its own objectives in order to live up to the IKM Group’s overall policy.

No accidents No injuries

No exceptions

History

1989

Foundation: Instrumentering Kalibrering og Måleteknisk Laboratorium AS (originally Hydrotech Laboratorium AS), renamed to IKM Laboratorium AS

1992

Established: IKM Testing AS 1994

Established: IKM Engineering & Kompetansesenter AS, IKM Mekaniske AS and IKM Kristiansund AS

1995

Acquisitions: Scana Hydrotech AS and Alfred Paulsen Contracting AS 1996

Acquisitions: IKM Engineering AS (Idavoll AS).

Established: Dept. in Bergen for IKM Testing AS and IKM Laboratorium AS

1997

Acquisitions: Gjerseth Elektro Contracting AS, Alltex AS (service dept) and Semco Industri AS.

Established: IKM Stillas AS 1998

Acquisitions: Kystbasen Vedlikeholds Senter AS and Subsea Design AS. Established: IKM Testing UK Ltd and IKM Testing Asia Pte. Ltd (Singapore)

1999

Acquisitions: Visman AS and IKM Offshore Development AS (Offshore Development AS).

IKM Mekaniske AS invests in new workshop in Jåttåvågen 2000

Established: IKM Testing Canada Ltd. and Wellcon AS (34%) 2001

Established: IKM Kran og Løfteteknikk AS 2002

Acquisitions: Everclean International AS, Odim Hitecs dept. for Industrial-automation, Hitec Instrument (80%) and ACGS Pte. Ltd. in Singapore. Established: IKM Testing Spain SL.

Share purchase: 34% of Midt-Norsk Stillas AS

2003

Established: IKM Service AS and Merlin Subsea AS. Merger: IKM Stillas AS and IKM Visman AS merge with KAEFER Maritim AS. Change of name: KAEFER IKM AS. Share purchase: 23,29% of Rosenberg Verft AS 2004

Acquisitions: IKM Larsen & Mortensen AS (Steinsvik Maskin-industri, dept. Stavanger), OIS Inspection AS, IKM Ocean Design AS 51% (former JP Kenny Norge AS) and Textrain (UK) Ltd. 2005

Established: IKM Valves AS.

Demerger: IKM Elektro AS demerges from IKM Gjerseth Elektro AS, which in turn changes name to IKM Automasjon AS. Acquisitions: IKM Mekaniske Kristiansund AS (Noomas Offshore AS) 2006

Acquisition: IKM Instrutek AS (Instrutek AS) and IKM. Morgenstierne AS (Morgenstierne Tekniske AS). Established: IKM Testing Australia Pty. Ltd. 2007

Acquisition: Subsea Management Systems merged with IKM Con-sultants AS (Offshore Development AS), IKM Testing dept. Harstad (Altinex Services AS), IKM Årdal Mekaniske AS (Årdal Mekaniske Verksted AS) and IKM Production Technology AS (Altinex Reservoir Technology AS).

Established: IKM Malaysia.

Sale: IKM Automasjon AS and IKM Mekaniske AS, (fabrication dept.) 2008

Acquisition: IKM DSC Engineering AS (DSC Engineering AS), Arne Bø Pedersen AS (dept. for bolt working) and Jacobsen Services AS merged with IKM Testng AS.

Sale: KAEFER IKM AS and Rosenberg Verft AS (28,4%) 2009

Acquisition: Moland Mekaniske AS.

Established: IKM Subsea AS, IKM Operations AS, IKM Maskinering AS (merger of IKM Larsen & Mortensen AS, IKM Årdal Mekaniske AS and Moland Mekaniske AS)

2010

Acquisitions: Project Partner AS, IKM Technique AS (Technique AS), IKM Miljøteknikk AS (Miljøteknikk AS) and IKM Haaland Group AS (Haaland AS, Industrigravøren AS and Haaland Elektronikk AS)

The IKM Group

IKM Invest

IKM Elektro AS (Sola) IKM Instrutek AS (Larvik) IKM Laboratorium AS (Tananger) Dept. Bergen Dept. Oslo

IKM Measurement Services Ltd. (Aberdeen)

IKM Measurement Services Asia Pte. Ltd.

(Singapore)

IKM Measurement Services Australia Pte. Ltd. (Perth) IKM Miljøteknikk AS (Sagvåg) IKM Products AS (Sola) IKM Production Technology AS (Sola) IKM Production Technology Sdn. Bhd (Kuala Lumpur) IKM Valves AS (Stavanger) Dept. Bergen IKM Testing AS (Sola) Dept. Bergen Dept. Kristiansund Dept. Hammerfest

IKM Testing Asia Pte. Ltd. (Singapore)

IKM Testing Australia Pty. Ltd. (Perth)

IKM Testing Brasil LTDA (Rio de Janeiro)

IKM Testing Canada Ltd. (St. Johns)

Dept. Halifax

IKM Testing Kazakhstan LLP (Atyrau)

IKM Testing Spain SL (Cadiz)

IKM Testing (Thailand) Co. Ltd. (Rayong) IKM Testing UK Ltd. (Newcastle) Dept. Aberdeen PT IKM Indonesia (Batam) IKM Subsea AS (Bryne)

IKM Subsea Malaysia (Kuala Lumpur)

IKM Subsea Singapore (Singapore)

IKM Consultants AS (Tananger)

Dept. Bergen Dept. Horten

IKM Consultants (UK) Ltd.

(Aberdeen)

IKM Ocean Design AS (Stavanger)

Dept. Trondheim IKM Ocean Design Australia Pty. Ltd (Perth) IKM DSC Engineering AS (Tranby) IKM Kran og Løfteteknikk AS (Tananger) IKM Operations AS (Stavanger) IKM Service AS (Sola) IKM Haaland AS (Vigrestad) IKM Industrigravøren AS (Vigrestad) IKM Inspection AS (Kristiansand) Dept. Grimstad Dept. Grenland IKM Maskinering AS (Sola) Dept. Arendal Dept. Fyresdal Dept. Sola Dept. Tau IKM Mekaniske Stavanger AS (Stavanger) Dept. Nærbø IKM Mekaniske Kristiansund AS (Kristiansund) IKM Robertson AS (Egersund) IKM Technique AS (Sandnes)

ELECTRICAL/

INSTRUMENT/

PROCESS

SUBSEA/

COMPLETION/

COMMISSIONING

ENGINEERING/

OPERATIONS

FABRICATION/

INSPECTION

0 500 1000 1500 2000 2500 3000 3500 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 2000 1999 1998 1997 1996 1995 1994 1993 1992 1991 1990 1989 B2011 4000 578 1023 830 250 670 658 1300 926 504 670 Mill. NOK

The IKM Group

IKM Invest

The turnover for IKM Invest comprises companies where IKM’s owner share is 20% or more.

Commercial property Residential property Development Projects Company investments

Hansa Property Group (15,6%)

Company investments AconaWellpro AS (21%) North Energy AS (3%) ScanFarm AS (67%) Ingenium AS (34%) Noreco ASA (6%) Founds

Energy Ventures III Energy Ventures IV Acta

IKM EIENDOM AS

IKM INDUSTRI-

INVEST AS

0 500 1000 1500 2000 2500 3000 3500 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 2000 1999 1998 1997 1996 1995 1994 1993 1992 1991 1990 1989 B2011 4000 578 1023 830 250 670 658 1300 926 504 670 Mill. NOK

IKM Elektro AS

IKM Instrutek AS

IKM Laboratorium AS

IKM Measurement Services Ltd.

IKM Measurement Services Asia Pte. Ltd.

IKM Measurement Services Australia Pte. Ltd.

IKM Miljøteknikk AS

IKM Products AS

IKM Production Technology AS

IKM Production Technology Sdn. Bhd.

IKM Valves AS

PRODUCT SALES • Supply house • Instrumentation/electro/electronics/automation • Subsea/topside valves • Flow/level instruments • Measurement/testing equipment • Electrical motors/transformers • Thermography equipment • Transformer surveillance • Calibration/environmental instruments • Navigation/communication PRODUCTION • System integration • Electrical motors/transformers/generators • Electrical subsea motors/transformers • Pressurised containers

• Control/enclosure panels • Valve parts/valve repair • High pressure sample bottles • Subsea HPU’s

• Subsea el. actuators

• Electrical/hydraulic control systems SERVICE, INSTALLATION AND CALIBRATION

• Pressure, temp, flow, electrical, mechanical and gas density • Electrical parameters

• Valve Site Service (VSS) • Pressure safety valves (PSV)

• Navigation/maritime communication (maritime equipment) • Projecting (new build)

• Field instrumentation • Emission measurements (NOx) PROCESS AND WELL TECHNOLOGY

• Data sampling (pressure, temp, flow, chemical analysis) • On-site PVT

• Well integrity (monitorering/analysis) • Process surveillance RENTAL EQUIPMENT/PERSONNEL TRAINING COURSES SUBSEA • Trencher operations • ROV operations

• Survey and Inspection services • Offshore management • Manufacture of subsea equipment • Sale of ROV’s

• Pigging/pipeline inspection/RFO • Scale squeeze services • Cuttings transport system (CTS) TOPSIDE

• Pressure and vacuum testing • Chemical cleaning • Oil flushing/oil cleaning

• Nitrogen services (N2/He leak testing) • Umbilical services

• Video inspection • Bolt working services • Decommissioning/passivation • Preservation

• Water as a tool/hydrojetting • Air Treatment

• Pipe labelling/flow coding • Certification of accumulators • Maintenance of heat exchangers • HVAC cleaning

• Pipe freezing

• Vacuum Tank Cleaning System (VTCS) • Cleaning of slop water (X-clean) • Cold cutting/cutting services • Cutting/bevelling/flange facing RENTAL

• Pumps and tanks • Inspection equipment • Bolt working equipment • Drying and filter units • Flanges and plugs • Air treatment units • Testing equipment TRAINING COURSES

IKM Testing AS

IKM Testing Asia Pte. Ltd.

IKM Testing Australia Pty. Ltd.

IKM Testing Brasil LTDA

IKM Testing Canada Ltd.

IKM Testing Kazakhstan LLP

IKM Testing Spain SL

IKM Testing Thailand Co. Ltd.

IKM Testing UK Ltd.

PT IKM Indonesia

IKM Subsea AS

IKM Subsea Malaysia

IKM Subsea Singapore

Electrical / Instrument / Process

IKM Haaland AS

IKM Industrigravøren AS

IKM Inspection AS

IKM Maskinering AS

IKM Mekaniske Stavanger AS

IKM Mekaniske Kristiansund AS

IKM Robertson AS

IKM Technique AS

CONSULTANCY SERVICES

(field development/new build, operation and maintenance) • Multidiscipline engineering services

• Project management and project control • Procurement and contract services • Logistics and MA services • Subsea and marine, drilling and well MARINE PIPELINE ENGINEERING • Subsea and pipelines:

- Field development

- Engineering/design of marine pipelines - Installation engineering

- Subsea production systems • Design and construction of:

- Subsea structures - Tie-in modules/systems - Subsea manifold systems

ENGINEERING AND TOTAL DELIVERY OF PASSIVE FIRE AND BLAST PROTECTION SYSTEMS CRANE AND LIFTING SERVICES

• Maintenance, modifications and certification of: - Offshore/ship cranes, lifting equipment - Lifeboats/mobboats/lifesaving equipment • Supply/rental of lifting equipment

• Delivery of related engineering, mechanical work/fabrication OFFSHORE OPERATION SUPPORT AND SERVICE PERSONNEL • Crane operators

• Mechanics • Flag men • Heliguards

CUSTOMISED OPERATION SUPPORT TO OPERATORS • Operations/maintenance and service personnel • Operations and maintenance support • Maintenance management • Maintenance concepts • Spare part strategy • Maintenance planning • Engineering Support all Disciplines • Lifecycle studies

• Risk evaluation and RBI analysis

CNC-MACHINING • CNC thin plate machining • 3D measuring MECHANICAL INDUSTRY • Maintentance and modifications • Sheet metal/welding and machining • Fabrication and Installation • Mechanical design / 3D modelling • Fabrication of stainless steel products • Contracting personnel

• Material handling and lifting equipment ELECRICAL

• Electronic products INSPECTION

• NDT/Material inspection • Third party verification SUBSEA

• Rov-tooling • Inspection services

• Construction of subsea equipment

IKM Consultants AS

IKM Consultants (UK) Ltd.

IKM Ocean Design AS

IKM Ocean Design Australia Pty. Ltd

IKM DSC Engineering AS

IKM Kran og Løfteteknikk AS

IKM Operations AS

IKM Service AS

Engineering / Operations

IKM Elektro AS

Skvadronveien 24, 4050 Sola, Norway T: +47 51 81 17 30

E: [email protected]

IKM Instrutek AS

Elveveien 28, 3262 Larvik, Norway T: +47 33 16 57 00

E: [email protected]

IKM Laboratorium AS

NorSea Base, Bygg 53 Pb. 124, 4098 Tananger, Norway T: +47 51 71 95 00 E: [email protected] Dept. Bergen Ågotnes Industripark Pb. 97, 5346 Ågotnes, Norway T: +47 56 31 27 70 E: [email protected] Dept. Oslo Olaf Helsetsvei 1 0694 Oslo, Norway T: +47 22 78 27 40 E: [email protected]

IKM Measurement Services Ltd.

Howe Moss Terrace, Kirkhill Industrial Estate Dyce, Aberdeen, AB21 0GR

United Kingdom T: +4 41 22 47 93262 E: [email protected]

IKM Measurement Services Asia Pte. Ltd.

117 Defu Lane 10 Singapore 539229 T: +65 6777 8803 E: [email protected]

IKM Measurement Services Australia Pte. Ltd. 33 Kewdale Road Welshpool WA 6106 Australia T: +61 8 9452 6100 E: [email protected] IKM Miljøteknikk AS Rindane 9, Pb.23, 5408 Sagvåg, Norway T: +47 918 84 532 E: [email protected] IKM Products AS Skvadronveien 24 4050 Sola, Norway T: +47 51 20 23 00 E: [email protected] IKM Production Technology AS Skvadronveien 24 4050 Sola, Norway T: +47 51 64 13 40 E: [email protected] IKM Production Technology Sdn. Bhd

1-10, Impian Kota, Jalan Kg Attap 50460, Kuala Lumpur, Malaysia T: +601 9650 6949 E: [email protected] IKM Valves AS Gamle Forusvei 25 4033 Stavanger, Norway T: +47 51 71 95 20 E: [email protected] Dept. Bergen O J Brochs gate 10 5006 Bergen, Norway T: +47 55 69 11 34 E: [email protected] IKM Testing AS

Ljosheimvegen 14, 4050 Sola, Norway T: +47 51 64 90 00 E: [email protected] Dept. Bergen Ågotnes Industripark Pb. 97, 5346 Ågotnes, Norway T: +47 56 31 27 70 E: [email protected] Dept. Kristiansund NorSea Vestbase, Pb. 2223 6503 Kristiansund, Norway T: +47 71 58 07 60 E: [email protected] Dept. Hammerfest Brenneriveien 10 9600 Hammerfest, Norway T: +47 51 64 13 90 E: [email protected]

IKM Testing Asia Pte. Ltd.

117 Defu Lane 10 Singapore 539229 T: +65 6777 8803 E: [email protected]

IKM Testing Australia Pty. Ltd.

33 Kewdale Road Welshpool WA 6106 Australia T: +61 8 9452 6100 E: [email protected]

IKM Testing Brasil LTDA

Rua Lauro Muller no116, Sala 2401 Torre do Rio Sul-Botafogo, Rio de Janero CEP: 22290, 160, Brasil

T: +55 (21) 3544 0000 E: [email protected]

IKM Testing Canada Ltd.

40 St. Anne’s Crescent Paradise, NL A1L 1K1, Canada T: +1 709 782 5051 E: [email protected]

Dept. Halifax

30 Colford Drive, PO Box 100, Head Chezzencook, NS, B0J 1N0, Canada T: +1 902 827 2587

E: [email protected]

IKM Testing Kazakhstan LLP

Atyrau, Republic of Kazakhstan Atambaeva street, 12/A T: +7 (7122) 25 15 69 E: [email protected]

IKM Testing Spain SL

Poligono Industrial «El Trocadero» C/Holanda, Nave 23

C.P. 11510 Puerto Real, Cadiz, Spain T: +34 956 47 47 41

E: [email protected]

IKM Testing (Thailand) Co. Ltd.

72/2 Moo 3, Phala Sub-district

Banchang District, Rayong 21130, Thailand T: +66(0) 38601 996/997

E: [email protected]

IKM Testing UK Ltd.

42 Colbourne Crescent Nelson Park Industrial Estate,

Cramlington, Northumberland NE23 1WB, United Kingdom

T: +44 1670 707 265 E: [email protected]

Dept. Aberdeen

Unit 47, Howe Moss Terrace, Kirkhill Industrial Estate, Dyce, Aberdeen AB21 0GR, United Kingdom T: +44 1224 72 5599

E: [email protected]

PT IKM Indonesia

Ruko Bukit Beruntung Block C, no. 2, Batam, Indonesia T: +65 6777 8803 E: [email protected] IKM Subsea AS Nordlysveien 3 4340 Bryne, Norway T: +47 51 64 90 00 E: [email protected]

IKM Subsea Malaysia

1-10 Impian Kota, Jalan Kampung Attap 50460 Kuala Lumpur, Malaysia T: +60 196506949

E: [email protected]

IKM Subsea Singapore

117 Defu Lane 10 Singapore 539229 T: +65 96607629 E: [email protected]

Electrical/

Instrument/

Process

Subsea/

Completion/

Commissioning

Contact Information

Engineering/

Operations

IKM Consultants AS Tankbåtvegen 1 4056 Tananger, Norway T: +47 51 69 51 00 E: [email protected] Dept. Bergen O J Brochs gate 10 5006 Bergen, Norway T: +47 55 69 11 34 E: [email protected] Dept. Horten Storgt. 38 3182 Horten, Norway T: +47 33 04 27 40 E: [email protected]

IKM Consultants (UK) Ltd.

Rubislaw Den House

23 Rubislaw Den North, Aberdeen Scotland AB15 4AL

T: +4 41 22 43 29080 E: [email protected] IKM DSC Engineering AS Dølasletta 3 3408 Tranby, Norway T: +47 32 22 65 80 E: [email protected] IKM Kran og Løfteteknikk AS Tankbåtvegen 1 4056 Tananger, Norway T: +47 51 64 81 00 E: [email protected]

IKM Ocean Design AS

Vassbotnen 1, Pb. 99 4064 Stavanger, Norway T: +47 51 21 21 00 E: [email protected] Dept. Trondheim Pb. 326, Sentrum 7402 Trondheim, Norway T: +47 73 19 72 00 E: [email protected]

IKM Ocean Design Australia Pty. Ltd 33 Kewdale Road, Welshpool WA 6106 Australia T: +61 08 9452 6100 E: [email protected] IKM Operations AS Vassbotnen 1 4313 Sandnes, Norway T: +47 51 64 90 00 E: [email protected] IKM Service AS Ljosheimvegen 14 4050 Sola, Norway T: +47 51 64 90 00 E: [email protected]

IKM Invest AS

Fabrication/

Inspection

IKM Haaland AS Skogateigen 28 4362 Vigrestad Pb. 23, 4369 Vigrestad, Norway T: +47 51 79 20 00 E: [email protected] IKM Industrigravøren AS Fabrikkvegen 6 4362 Vigrestad Pb. 23, 4369 Vigrestad, Norway T: +47 51 48 72 30 E: [email protected] IKM Inspection AS Lumberveien 51 B Pb. 8048, Vågsbygd 4675 Kristiansand, Norway T: +47 38 01 91 50 E: [email protected] Dept. Grimstad

c/o Nymo Mek. Verksted AS Pb. 113, 4891 Grimstad, Norway T: +47 37 29 24 80 E: [email protected] Dept. Grenland Strømtangveien 11 B 3950 Brevik, Norway T: +47 35 55 75 70 E: [email protected] IKM Maskinering AS Ljosheimvegen 14 4050 Sola, Norway T: +47 51 64 90 00 E: [email protected] Dept. Arendal Bedriftsveien 13, Krøgenes 4841 Arendal, Norway T: +47 37 03 68 02 E: [email protected] Dept. Fyresdal 3870 Fyresdal, Norway T: +47 35 04 15 00 E: [email protected] Dept. Sola Tankbåtvegen 1 4056 Tananger, Norway T: +47 51 94 49 00 E: [email protected] Dept. Tau Breivikveien 17, Nordmarka 4120 Tau, Norway T: +47 51 75 44 44 E: [email protected] IKM Mekaniske Stavanger AS Jåttåflaten 10 4020 Stavanger, Norway T: +47 51 82 56 00 E: [email protected] Dept. Nærbø Bjorhaug Vest 4365 Nærbø, Norway T: +47 51 79 17 20 E: [email protected] IKM Mekaniske Kristiansund AS Dalegaten 137 6518 Kristiansund, Norway T: +47 70 33 14 00 E: [email protected] IKM Robertson AS Nyåskaiveien 2 4370 Egersund, Norway T: +47 51 79 17 50 E: [email protected] IKM Technique AS Torneroseveien 12 4315 Sandnes, Norway T: +47 51 80 05 20 E: [email protected] IKM Invest AS Skagenkaien 1 4006 Stavanger, Norway T: +47 51 64 13 80 E: [email protected]