Company Profile

Advanced Production and Loading is a market leader in the development, fabrication and sale of advanced systems for the offshore production, specializing in storage and transport of oil and gas by ships. APL was founded in 1993 to develop and commercialize the Submerged Turret Loading (STL) and the Submerged Turret Production (STP) systems. Derived from this technology APL covers a substantial range of offshore products: Single Anchor Loading (SAL) Single Anchor Production (SAP) External Turret Production (ETP) Buoy Turret Loading (BTL) SAL Yoke System (SYS) Spread Moored Tandem (SMT) Gas to Liquid (GTL) Bow Loading System (BLS) Stern Discharge System (SDS) Volatile Organic Compounds Recovery (VOC rec) Volatile Organic Compounds Return (VOC ret) Sequential Transfer of Tank Atmosphere (STTA) APL has main development and administration offices in Arendal, Norway and Kuala Lumpur Malaysia and offices in Brazil, USA, China, Singapore and UK.

Figure Showing Different Loading and Production Systems from APL

The Guiding Principles of APL

APL Vision To be the leading, most efficient and innovative supplier of technologies for offshore oil and gas production and transfer APL Mission y Be an innovative supplier of cost-efficient solutions. y Sustain and develop engineering competancy and project management skills y Sustain and develop business growth and Intellectual Property Our Strategy y Grow the company organically y Continue development of innovative solutions for production and terminals, maintaining leadership in LNG terminals y Further Develop after sales activity & capability for installation y Mergers & Acquisitions, same customers and within similar technological focus y Explore possibilities to offer competence in other sectors y Assure availability of leading competence in APL APL HSE policy APL believes that all accidents and events resulting in harm to people or damage to the environment can be prevented. To prevent such accidents and events from happening we conduct our work with a proactive approach focusing on continual improvement. Our work is never so urgent or important that it cannot be done safely

Brief History of APL

The good ideas that established APL and continue to support our long-term relationships with clients is simple yet innovative: deliver the technology systems that result in flexible, safe and cost-effective solutions for the offshore loading industry. APL was founded in 1993 to develop and commercialize the Submerged Turret Loading (STL) and the Submerged Turret Production (STP) systems. The development of the STL technology was a result of a demand in the market for loading systems with high availability in harsh environments. The loading systems available in the market at the time had clear limitations with respect to operation in bad weather conditions. Today both systems are well established as the world s first standarized turret systems. Derived from this technology, APL developed the Single Anchor Loading (SAL) system, the Single Anchor Production (SAP) system, the SAL Yoke (SYS) system, the Buoy Turret Loading (BTL) system, the External Turret Production (ETP) system, and Spread Moored Tandem (SMT) system. Our current product range also includes the Bow Loading System (BLS), the Stern Discharge system (SDS), Volatile Organic Compounds Recovery (VOC rec) system, the Volatile Organic Compounds Return (VOC ret) system, Sequential Transfer of Tank Atmosphere (STTA) system, and Gas to liquid (GTL) APL AS has been specialized within engineering, product bundling and project management related to the development and production of Production Systems and Loading Systems since it's incorporation. APLs main historical events include: 1993 APL AS was incorporated by Statoil and Marine Consulting Group (later Hitec Marine). The same year, APL delivered its first STL Production System to the Fulmar field in the North Sea. APL AS delivered its first STL Loading System, which was installed on Heidrun at Haltenbanken. APL AS was awarded the first international contract by Statoil at Lufeng in China for an STP system. APL AS established its first international offices in France (two employees) and in Houston (two-three employees). The number of employees has remained at similar levels since the offices were established. APL AS became wholly owned by Statoil and all technology rights associated with APL commercial activities were licensed to APL AS. In 1998, APL AS also delivered its first EPCI contract, a SAL loading system to PGS for the Banff field. APL AS was awarded a turn-key EPCI contract with CNOOC in China for an STP system at the Wenchang field. After this project, which was APL

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AS first turn-key contract, APL AS was to become regarded a major challenger to SBM and MODEC-SOFEC, the two main competitors of APL. 2002 APL AS purchased most of the business activities of Hitec Marine AS on 1 September 2002 to fully integrate all technologies associated with offshore loading. Through the takeover, APL strengthened its competence and market position in ship equipment and maintenance services. Furthermore, in 2002 APL AS developed its own swivel technology into its projects to supplement external swivel stack suppliers. 2003 2004 Statoil and the management entered into a buy-out agreement, which was concluded on 28 January 2004. Energivekst AS and Energy Ventures AS became majority owners and the management buy out (MBO) was completed. APL sets up regional office in Kuala Lumpur Malaysia The worlds first offshore LNG Regasification Terminal, delivered by APL, commenced operations first quarter 2005. APL AS was awarded the Offshore Energy Achievement Awards for Emerging innovation/technology for this technology in December 2004. On 10 February 2005, the Annual General Meeting approved the change of legal status from private limited liability company (AS) to public limited liability company (ASA), and the name change from Calculus AS to APL ASA. APL ASA was listed on the Oslo Stock Exchange 18. March 2005

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