1. Maersk Contractors Petrobras Visit June 2003

2. Maersk Contractors Drilling Floating Production H 2 S Detection and Protection Liquefied Natural Gas (LNG)

3. North Sea 8 Harsh environment jack-ups 2 FPSOs 5 H2S jobs Venezuela 6 Drilling barges 2 Drilling barges - man. 4 H2S jobs Egypt (EDC) 4 Jack-ups 2 Production barges 24 Land rigs 5 Workover land rigs 3 Workover offshore Rigs Dubai 2 Jack-ups Caspian Sea 1 Semi-submersible under construction 1 H2S job Canada 1 FPSO - management West Africa 1 FGSO 1 H2S job Maersk Contractors’ Operations Korea 1 Jack-up under construction 1 FPSO under construction - management 1 LNG under construction Australia 3 H2S jobs Brazil 4 H2S job Italy 4 H2S jobs 1 tank cleaner Mexico 1 Semi-submersible - management

4. Maersk Contractors in Brazil Maersk Contractors H 2 S Safety Services holds a 3- year contract for Shell which commenced in 2001. Maersk Contractors (then Maersk Drilling) operated the semi-submersible “MAERSK PIONEER” for Petrobras from 1977-1987

5. Fleet Maersk Contractors incl. Egyptian Drilling Company MAERSK CONTRACTORS Semisubmersibles NEWBUILDING KAN TAN IV (man.) Barge Rigs MAERSK RIG 12 MAERSK RIG 52 MAERSK RIG 61 MAERSK RIG 62 MAERSK PIONEER MAERSK PATHFINDER GP-21 (man.) GP-22 (man.) MANAGED UNITS Floating Production Unit WHITE ROSE Semisubmersible KAN TAN IV Jack-up AL BORZ Barges GP-21 GP-22 Floating Production Units/ LNG Vessels NKOSSA (FGSO) NORTH SEA PRODUCER (FPSO) MAERSK CURLEW (FPSO) NEWBUILDING (LNG) Harsh Environment Jack-ups MÆRSK INNOVATOR NEWBUILDING XL2 MÆRSK GALLANT MÆRSK GIANT MÆRSK GUARDIAN MAERSK ENDURER MÆRSK ENDEAVOUR MAERSK EXERTER MAERSK ENHANCER Standard Jack-ups MAERSK VALIANT MAERSK VIKING AL BORZ (man.) Land Rigs (cont.) EDC RIG 40 EDC RIG 41 EDC RIG 42 EDC RIG 43 EDC RIG 44 EDC RIG 45 EDC RIG 46 EDC RIG 47 EDC RIG 48 EDC RIG 49 EDC RIG 82 EDC RIG 83 Jack-ups SNEFERU SENUSRET KAMOSE ZOSER ZAHRAA SETTY Land Rigs EDC RIG 1 EDC RIG 2 EDC RIG 3 EDC RIG 4 EDC RIG 5 EDC RIG 6 EDC RIG 7 EDC RIG 8 EDC RIG 9 EDC RIG 10 EDC RIG 12 EDC RIG 14 EDC RIG 15 EDC RIG 16 EDC RIG 17 EDC RIG 18 EDC RIG 19 EDC RIG 20 (bareboat) EDC RIG 21 EDC RIG 34 EGYPTIAN DRILLING COMPANY

6. High Technology Drilling

7. The World’s Largest and Most Advanced Drilling Rig

8. In transport to The North Sea

9. Deepwater

10. Modules

11. Drillers chair

12. Deepwater - Development Operating area: Gulf of Mexico Brazil West Africa Australia Water depth: 10,000 ft Variable load: Min. 7,500 t Mooring: Synthetic prelaid rope Arrangement for development drilling

13. MC Floating Production Present contracts: MAERSK CURLEW Converted product carrier - 99,800 ton Receives crude oil and exports gas via pipeline and stabilized crude via shuttle tanker. 45,000 bopd / 110 mmscfd Operator: CNR in the British North Sea NKOSSA IIConverted gas carrier - 78,000 m 3 Receives, cools and stores segregated Propane (880 ton/day) & Butane (530 ton/day) Owned in joint venture: 49% SBM / 51% A.P. Møller Operator: Elf offshore the Peoples Republic of Congo NORTH SEA PRODUCERConverted product carrier - 99,800 ton Receives raw oil and exports gas/live crude by pipeline and dead crude via shuttle tanker Owned in joint venture with SLP Engineering (50%) 76,000 bopd / 24 mmscfd Operator: Conoco in the British North Sea.

14. MC Floating Production Recent business: –White Rose - Husky Oil, Canada Management contract for construction of Harsh Environment FPSO -127.000 tdw - Ice Strengthened - Disconnectable Turret - Production Capacity about 100.000 bopd - Gas 150 MMscfd with a fixed and incentive paid profit element Management contract for operation of the unit under a 10 years contract with a fixed and incentive paid profit element

15. MC Floating Production

16. FPSO Strategy in Brasil MCO wish to ENTER the Brasilian market, which we consider is an important growth market for FPSOs. Ambition is to become a leading player in the Brasilian market

17. MAERSK CONTRACTORS H 2 S SAFETY SERVICES

18. Maersk H 2 S Safety Services Established in 1985 Operating worldwide Market leader with provision of H 2 S contingency and training 56 H 2 S safety supervisors/technicians in the field Operational bases in Denmark, Norway, Aberdeen, Italy, Dubai, Kuala Lumpur, Brazil, Baku and Venezuela

19. H 2 S Services Rental of protection & detection equipment Qualified supervisory personnel Preparation of safety documentation Equipment maintenance and services Training and courses, both onshore and offshore Maintenance of breathing apparatus and fire fighting equipment onboard vessels and rigs

20. LNG One LNG (Liquified Natural Gas) carrier in order at Samsung for delivery in 2004. One option for an additional unit.