ISLAND OFFSHORE III KS

Under liquidation: 07/03/2026, Voluntary liquidation

Å drive rederivirksomhet relatert til olje og gassaktiviteter offshore, herunder å inngå nybyggingskontrakter og modifikasjonskontrakter for skip, finansiering, drift, innleie og utleie, kjøp og salg av skip og tilhørende utstyr og enhver annen virksomhet som med rimelighet anses å relatere seg til slik virksomhet.

Eie og drive ett fartøy av type UT 745 E, kontrahert ved Søviknes Verft AS og forventet levert i november 2001, og det som naturlig følger av slik virksomhet.

Keywords

crude oilnatural gasassemblydisassemblyinspectionrepairmaintenance (irm)insulationsurface treatmentscaffolding (iso)heatingventilationair conditioning (hvac)seabedcontrol cablesrisersflow pipesfloating tankersfpsodiving operationsunderwater exploration (rov)pipescablesengineeringproject activitiesliquefactionregasificationfirefighting

Organization

Chairman of the board: MU
Morten Ulstein1953
Years since formation: 26 years; since Sep 26, 2000
Type: Limited partnership
VAT registered: Yes
Number of employees: 0

Financials

Total operating income 2025: 362,566,820; NOK
Annual total result 2025: 71,983,637; NOK
Total equity 2025: 592,384,025; NOK

Last update: Aug 1, 2026

Management

Board

Name	Role	Shares
MU Morten Ulstein 1953	Chairman	-
I ISLAND OFFSHORE XI AS	General Partner	-
GJ Gary J Chouest 1944	Board Member	-
DD Dino David Chouest 1969	Alternate Member	-
HU Håvard Ulstein 1959	Alternate Member	-

Others

Name	Role	Shares
E ERNST & YOUNG AS	Auditor	-
H HASUND AS	Accountant	-

Last update: Jan 29, 2025

Ownership

No available data

Financials

in NOK

Summary

Year	2025	2024	2023	2022	2021
Total operating income	362,566,820	266,529,890	308,899,722	172,367,441	173,799,571
Annual Total Result	71,983,637	13,244,944	150,927,949	-15,081,451	-6,223,844
Total assets	1,462,343,933	738,558,975	738,605,754	641,660,052	677,066,436
Total liabilities	869,959,908	218,158,588	181,450,311	235,432,558	319,439,491
Total equity	592,384,025	520,400,388	557,155,443	406,227,494	357,626,945

P&L

Year	2025	2024	2023	2022	2021
Total operating income	362,566,820	266,529,890	308,899,722	172,367,441	173,799,571
Total operating costs	266,873,359	239,461,350	144,900,456	175,518,404	163,985,550
Operating result	95,693,461	27,068,540	163,999,266	-3,150,963	9,814,021
Financial income/costs	-23,709,823	-13,823,596	-13,071,317	-11,930,487	-16,037,865
Profit before tax	71,983,637	13,244,944	150,927,949	-15,081,451	-6,223,844
Total tax & extraordinary income/cost	0	0	0	0	0
Annual Total Result	71,983,637	13,244,944	150,927,949	-15,081,451	-6,223,844

Balance overview

Year	2025	2024	2023	2022	2021
Total fixed assets	1,296,909,646	609,710,104	624,200,078	584,870,896	595,102,701
Total current assets	165,434,286	128,848,871	114,405,676	56,789,156	81,963,735
Total assets	1,462,343,933	738,558,975	738,605,754	641,660,052	677,066,436
Short term debt	103,252,692	46,017,334	28,301,249	54,647,963	54,114,204
Long term debt	0	0	0	0	0
Total liabilities	869,959,908	218,158,588	181,450,311	235,432,558	319,439,491
Contributed capital	61,700,000	61,700,000	61,700,000	61,700,000	247,000,000
Retained earnings	530,684,025	458,700,388	495,455,443	344,527,494	110,626,945
Total equity	592,384,025	520,400,388	557,155,443	406,227,494	357,626,945
Total equity and liabilities	1,462,343,933	738,558,975	738,605,754	641,660,052	677,066,436

Classification

21st company classification

BETA

Industrial large enterprise

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