Turnkey supply of facilities, components and services

The different activities undertaken within the Group require that common Health Safety and Environmental (HSE) objectives and standards are instigated throughout the Group to meet the competitive requirements of today's offshore market. Unified HSE performance standards are being applied throughout the Group companies thereby ensuring that employees, visitors and members of the public are not put at risk, and that irrespective of the location and nature of the undertaking, the name of SBM Offshore can be relied upon to set and maintain the highest standards of protection.

Statistics

The Group's oil and gas construction and installation activities recorded no fatalities, however, two Lost Time Incidents (LTIs), accidents requiring more than one day away from work, were recorded for a total of 2.35 million man hours expended. This notable reduction from six LTIs in 2003 includes some admirable achievements in HSE performance, particularly in the hazardous work carried out during offshore installation campaigns, and during our construction operations in West Africa. This improvement is a direct result of the commitment of senior management and focused safety promotion and incentive schemes.

The statistics given in the Pie Chart are for Lost Time Injuries where the injured person was unable, because of his injury, to continue to work for a complete day or shift. The Frequency Rate used is that defined by the Occupational Health & Safety Administration (OHSA). No fatalities were recorded during 2004