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Q2 2013 report

Operating revenues for Q2 2013 amounted to USD 255.1 million, compared to USD 222.2 million in Q1 2013. EBITDA for Q2 2013 amounted to USD 107.7 million, compared to USD 117.0 million in Q1 2013. The decrease is mainly a result of negative contribution from the Papa Terra project by USD 14.8 million due to the revision of the forecasted cost for completing the project as a consequence of extended yard stay and additional work scope. On the positive side, certain one off positives from closure of various discussions with clients amounted to USD 10 million.