This study is focused on the observation of turbulence statistics (mean velocities and turbulence intensities) and on the various contributions to the total shear stress. The latter consists of a turbulent, a solvent (viscous) and a polymeric part. The polymers are found to contribute significantly to the total stress. With respect to the mean velocity profile, the results show a thickening of the buffer layer and an increase in the slope of the logarithmic profile. With respect to the turbulence statistics the results show that for the streamwise velocity fluctuations an increase of the root mean square at low polymer concentration but a return to values comparable to those for water at higher concentrations. The root mean square of the normal velocity fluctuations shows a strong decrease. Also the Reynolds (turbulent) shear stress and the correlation coefficient between the streamwise and the normal components are drastically reduced over the entire pipe diameter. In all cases the Reynolds stress stays definitely non-zero at maximum drag reduction. The consequence of the drop of the Reynolds stress is a large polymer stress, which can be 60% of the total stress. The kinetic-energy balance of the mean flow shows a large transfer of energy directly to the polymers instead of the route by turbulence. The kinetic energy of the turbulence suggests a possibly negative polymeric dissipation of turbulent energy.