Eni, StatoilHydro Select Sevan's Concept for Goliat FPSO

Eni Norge AS (Eni), the operator of the Goliat license (PL229/PL229B) and the partner StatoilHydro, have selected during the Management Committee meeting, the Sevan Floating, Production, Storage and Offloading (FPSO) 1000 concept for the Goliat development project.

This platform solution was selected after a thorough evaluation of the FEED (Front End Engineering and Design) Design Competition for the Goliat FPSO contract. In addition, Eni has decided to select Sevan as contractor for the Goliat project FPSO Post FEED engineering contract.

It is estimated that the Post FEED Engineering phase will be completed during 2009. The estimated value for the contract is approximately NOK 150 million.

The Sevan 1000 is capable of handling the harsh demands in the Barents Sea. The platform design will lead to new principles for winterization and to accommodate for expected environmental conditions in the Barents Sea.

In addition, there has been high focus during the design phase to minimize operational discharges to sea and to develop effective barriers for oil spill prevention.

The Sevan facility will be provided with electrical power supply from shore which will lead to significant reduction of emission of greenhouse gases.

The licensees in production license 229/229B are:

• Eni Norge AS (Operator) 65%
• StatoilHydro ASA 35%