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INVESTMENTS IN AFFILIATES (Tables)
 12 Months Ended
Dec. 31, 2012
Equity Method Investments and Joint Ventures [Abstract]  
Participation percentages, carrying amounts and components of non-consolidated investees
At December 31, 2012, the Company has the following participation in investments that are recorded using the equity method:
 
2012

 
2011

Golar Partners (1) (3)
29.9
%
 
—

Bluewater Gandria NV ("Bluewater Gandria") (2)
—

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


(1) Golar Partners and its subsidiaries were included in the Company's consolidated financial statements for all periods until December 13, 2012, following its first AGM upon which the majority of directors were elected by the common unitholders, Golar Partners was deconsolidated and the Company's interests in the subordinated units were accounted for under the equity method from that date (see note 5 for further details).

(2) In January 2012, Bluewater Gandria became a wholly-owned subsidiary of the Company pursuant to the purchase of the remaining 50% equity interest by the Company (see note 6).

(3) The Company held a 54.1% ownership in Golar Partners as of December 31, 2012. However the 29.9% interest refers to the Company's interests in the subordinated units which are subject to the equity method accounting.

The carrying amounts of the Company's investments in its equity method investments as at December 31, 2012 and 2011 are as follows:
(in thousands of $)
2012

 
2011

 
 
 
 
Golar Partners
362,064

 
—

Bluewater Gandria
—

 
17,143

ECGS
5,592

 
5,294

Golar Wilhelmsen
—

 
92

Equity in net assets of affiliates
367,656

 
22,529



The components of equity in net assets of non-consolidated affiliates are as follows:
(in thousands of $)
2012

 
2011

Cost
374,729

 
28,868

Dividend
(125
)
 
—

Equity in net earnings of other affiliates
(6,948
)
 
(6,339
)
Equity in net assets of affiliates
367,656

 
22,529
Summarized financial information of affiliated undertakings
Summarized financial information of the affiliated undertakings shown on a 100% basis are as follows:
(in thousands of $)
December 31, 2012
 
Golar Wilhelmsen

ECGS

Golar Partners

Balance Sheet
 
 
 
Current assets
7,690

31,853

107,370

Non-current assets
—

1,368

1,403,604

Current liabilities
7,667

20,859

169,717

Non-current liabilities
—

1,183

1,099,713

Non-controlling interest
—

—

71,858

 
 
 
 
Statement of Operations
 
 
 
Revenue
4,245

61,769

286,630

Net (loss) income
(494
)
849

127,141