Eni, Sevan Ink Project Services Contract for Goliat FPSO

Eni Norge as Operator of Goliat and Sevan Marine have entered into a contract where the parties will work together in order to achieve a successful result for the Goliat FPSO (Floating Production, Storage and Offloading) project.

Under the contract, Sevan Marine will provide project and engineering management and early operation preparation services. The services will include personnel to be integrated as a part of the Eni project follow up organisation. Sevan Marine will also execute and assist Eni in several specific key engineering and construction activities related to proprietary technology areas for the Sevan Marine FPSO concept.

"Sevan is very pleased to enter into this cooperation contract. We look forward to work together with Eni to execute a profitable, safe and environmentally friendly project," said Jan Erik Tveteraas, CEO Sevan Marine ASA.

A Sevan 1000 FPSO design has been selected and will be installed on the Goliat field in the sub-arctic Barents Sea off the northern coast of Norway. First oil is expected within 2013. The contract for engineering, procurement and construction (EPC) of the FPSO is planned to be announced later in first quarter 2010.

The Goliat FPSO will have a production capacity of some 110,000 barrels of oil per day, a gas processing capacity of almost 4.0 million standard cubic meters per day and an oil storage capacity of one million barrels of oil.

The Goliat FPSO has been designed according to strict environmental requirements in the Barents Sea , and with a minimum of emissions and no discharges during normal operation. The Goliat FPSO electrification solution will provide reduced emission of CO2 compared to no electricity from shore. The selected solution is based on state of the art electrification technology that is possible to utilize as a result of the Sevan geostationary moored FPSO design.

Eni Norge is the Operator of the Goliat field with an ownership share of 65%, while Statoil has an ownership share of 35%. Eni Norge is owned by Eni S.p.A. that is one of the largest integrated energy companies in the world.