1. Field Location The Kristin Field, discovered in 1997, is situated 20 km south west of Åsgard (Smørbukk) and stretches into PL 134B and PL 199. The Kristin field will be a gas and condensate producing field. Kristin might be developed as a field centre for Haltenbanken Sør including the following fields:  Kristin  Lavrans  Ragnfrid  Erlend  M-prospect  Future discoveries in the vicinity of Kristin The Haltenbanken Sør field is located at the western part of the Halten Terrace, approximately 240 kilometers off the Norwegian West Coast. The water depth across the field ranges from 240 to 370 m. The PDO was approved by the authorities in December 2001. Kristin license has a commitment to deliver gas from 01.10.2005. Field Installations The Kristin development will consist of 10 + 2 subsea completed wells from four templates with subsea production facilities installed in the central and northern areas of the Kristin field producing to the Kristin Semi. The Semi has full process capacity and will be producing stabilised condensate. The condensate will be transported to a floating storage unit for export (Åsgard C). Gas will be transported directly from the Kristin Semi to Åsgard Transport.

6. The Kristin Semi consists of the Hull and the Topsides. The Topsides consist of following main items:  Living Quarters  Utility & Power Generation Module  Process & Process Support Module  Manifolds & Riser Balcony Module  Flare Tower The main items are also displayed in the figure below:

9. The main functions of the Kristin Semi are:  Gas dehydration  Gas export through Åsgard Transport  Condensate stabilization  Condensate export to a storage unit The Kristin Semi will be split into the following main contract packages: Con trac t FormatDescription 11EPCHOverall Engineering, Procurement and Hook-up of the Kristin Semi and Fabrication of both the Process & Process Support Module and the Utility & Power Gen. Module FCFabrication Contract of both the Manifolds & Riser Balcony Module and the Flare Tower. FCFabrication Contract, Hull EPCEngineering, Procurement and Construction Contract, Living Quarters and Helideck

11. Project Main Design Criteria The Kristin Semi shall have the following capacities:  18.3 x10 6 Sm 3 /SD Rich Gas Export rate from the Kristin Semi  20 000 Sm 3 /SD Condensate export rate.  25 000 Sm 3 /SD total liquid handling capacity in inlet separator. The Kristin Semi will be installed in a water depth of 315 meters. The Living Quarters will be designed for 104 persons. The number of risers is 24. The Kristin Semi shall have the flexibility to handle future tie-ins from other adjacent fields.