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EQUITY IN NET ASSETS OF NON-CONSOLIDATED INVESTEES (Tables)

12 Months Ended

Dec. 31, 2011

Equity Method Investments and Joint Ventures [Abstract]

Participation percentages, carrying amounts and components of non-consolidated investees

The carrying amounts of the Company's investments in its equity method investments as at December 31, 2011 and 2010 are as follows:

(in thousands of $)	2011			2010
Bluewater Gandria	17,143			18,648
ECGS	5,294			1,574
Golar Wilhelmsen	92			54
Equity in net assets of non-consolidated investees	22,529			20,276

The components of equity in net assets of non-consolidated investees are as follows:

(in thousands of $)	2011			2010
Cost	28,868			24,715
Equity in net earnings of investees	(6,339	)		(4,439	)
Equity in net assets of non-consolidated investees	22,529			20,276

At December 31, 2011, the Company has the following participation in investments that are recorded using the equity method:

	2011			2010
Bluewater Gandria NV ("Bluewater Gandria")	50	%		50	%
Egyptian Company for Gas Services S.A.E ("ECGS")	50	%		50	%
Golar Wilhelmsen Management AS ("Golar Wilhelmsen")	60	%		60	%

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- Definition

Tabular disclosure of equity method investments in common stock. The disclosure may include: (a) the name of each investee or group of investments for which combined disclosure is appropriate, (2) the percentage ownership of common stock, (3) the difference, if any, between the carrying amount of an investment and the value of the underlying equity in the net assets and the accounting treatment of difference, if any, and (4) the aggregate value of each identified investment based on its quoted market price, if available.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Principles Board Opinion (APB)

-Number 18

-Paragraph 20

-Subparagraph a, b

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.



Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 323

-SubTopic 10

-Section 50

-Paragraph 3

-URI http://asc.fasb.org/extlink&oid=6382943&loc=d3e33918-111571

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