Note 16 - Guarantees

Parent company

Consolidated

12/31/2016

12/31/2015

(Amounts in USD 1,000)

12/31/2016

12/31/2015

-

-

Contractual guarantees to Brazilian Navy

3,912

1,681

-

-

Guarantees related to tax-disputes, Brazil

2,889

2,748

52,494

305,658

Contractual guarantees Power cable segment

54,518

305,658

52,494

305,658

Total guarantees

61,318

310,087

Contractual guarantees to Brazilian Navy are issued by Siem Offshore do Brasil SA. Guarantees related to disputes and ongoing tax-cases have been raised per request from Brazilian tax authorities. Contractual guarantees provided by Parent are security for clients of Siem Offshore Contractors GmbH.

Board Of Directors

Financial Statements

Notes