Sevan Marine Company News

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FPSO Design Contract Goes to Sembcorp
Thursday, August 29, 2019 Siccar Point and Shell aim to sanction Cambio in 2020.

Sembcorp Marine Acquires 50% Stake in KANFA Aragon from Sevan Marine
Wednesday, June 29, 2016 Sembcorp Marine acquires 50 percent stake in process solutions and services provider KANFA Aragon from Sevan Marine for $2.36 million.

Sevan Marine's Unit KANFA Bags $50M EPC Deal for FPSO Yinson Production
Tuesday, February 17, 2015 Sevan Marine's subsidiary KANFA bags a $50 million engineering, procurement and construction contract for four process modules for FPSO Yinson Production.

First Oil in Sight at Huntington
Wednesday, March 27, 2013 After months of delays, the Huntington oil and gas field is on track to commence production soon.

Teekay's FPSO Buy to Keep Sevan Marine Afloat
Thursday, November 10, 2011 Sevan Marine's plans to sell three FPSOs to Teekay Corporation will keep the Norwegian company from sinking into bankruptcy.

Sevan Marine Announces Resignation
Monday, October 31, 2011 VP Finance of Sevan Marine Resigns

Teekay to Purchase Sevan FPSOs
Tuesday, October 18, 2011 Teekay has entered into an agreement with Sevan Marine and holders of more than two-thirds of each of Sevan's bond loans for Teekay to acquire three FPSO units from Sevan and make an equity investment in a recapitalized Sevan.

Sevan Marine's FPSO Charter Contract Extended until 2012
Friday, September 30, 2011 Under the charter contract with Centrica Energy Upstream, the charter for FPSO Sevan Hummingbird has been extended until September 28, 2012.

Sevan Marine Sells FPSOs to Teekay
Friday, September 30, 2011 Sevan Marine has reached an agreement in principle with Teekay in relation to a sale of three floating production storage and offloading (FPSO) units by Sevan Marine to Teekay.

Sevan Marine: Cost Increase for FPSO Sevan Voyageur
Friday, August 26, 2011 Additional costs will be incurred by Sevan Marine for the FPSO Sevan Voyageur, resulting in a current cost estimate for the project in the range of USD 170-190 million.

Sevan Marine Briefs Financial Position
Monday, July 11, 2011 The Board of Directors of Sevan Marine continues to hold constructive dialogue with bondholders and other relevant parties regarding a global restructuring of the Company's balance sheet.

Sevan Marine Reports Financial Results for 1Q11
Tuesday, June 14, 2011 Sevan Marine reported the results for the 1Q of 2011. Sevan Marine and its advisers are in the process of seeking a debt restructuring to secure the Company's financial position.

Sevan Marine Board Member Resigns
Thursday, May 26, 2011 Sevan Marine has received a letter of resignation from Jan Erik Tveteraa.

Sevan Marine Says Hello to New CEO
Thursday, April 28, 2011 Carl Lieungh has been appointed new CEO of Sevan Marine following the general meeting in Sevan Marine.

Sevan Marine Spotlights 4Q Results for 2010
Tuesday, February 15, 2011 Operating revenue for the quarter amounted to USD 74.5 million (USD 73.4 million).

Sevan Marine Begins Pulling BOP to Surface
Friday, November 19, 2010 Sevan Marine reported that securing of the well has been completed and the pulling of the BOP to the surface has started.

E.ON Charters FPSO Sevan Voyageur for Huntington Field
Tuesday, November 09, 2010 Sevan has entered into a charter contract and the services agreement with E.ON, in respect of the chartering and operation of FPSO Sevan Voyageur on the Huntington field.

Sevan Pulls Out BOP for Repairs
Monday, November 08, 2010 Sevan has decided to pull the BOP to the surface for repair of the jammed ram.

Sevan Driller Currently Off-Hire
Friday, November 05, 2010 The Sevan Driller is currently off-hire due to problems with the blow-out preventer (BOP).

Aker to Provide Drilling Riser System to Sevan Marine's Rig
Wednesday, October 06, 2010 Aker Solutions has won a contract to provide a complete 8,000 feet drilling riser system to Sevan Marine's deepwater drilling rig Sevan Brasil.

Sevan Marine BOD Member to Retire
Tuesday, September 21, 2010 May Britt Myhr has notified the Board of Directors of Sevan Marine ASA that she will not be in a position to serve in office as Board member in Sevan Marine.

Equipment Defects Halt Drilling Ops on Sevan Driller
Friday, September 17, 2010 Defects in the riser tensioning systems (DAT cylinders) in the drilling package, have caused a stop in the drilling operation on the Sevan Driller.

Sevan Marine, E.ON to Extend LOI for Huntington Project
Wednesday, August 18, 2010 Sevan Marine and E.ON Ruhrgas have made good progress in the commercial agreements for the lease of the FPSO Sevan Voyageur.

Sevan to Take Stake in Centrica's FPSO Sevan Hummingbird
Friday, August 13, 2010 Centrica and Sevan Marine have entered into an agreement for Sevan to acquire Centrica's 20% equity interest in FPSO Sevan Hummingbird.

Sevan Marine Launches Sevan Driller II
Thursday, August 05, 2010 Sevan Driller II was launched on August 2, 2010.

Sevan Marine Raises $200MM in Bond Issue
Monday, July 19, 2010 Sevan Marine has raised $200MM in a bond issue.

LOI Extended for FPSO Sevan Voyageur
Thursday, July 01, 2010 Sevan Marine and E.ON Ruhrgas have agreed to extend the Exclusivity Period to the charter of FPSO Sevan Voyageur.

Sevan Snags Study Contract for Chevron's Alder Project
Tuesday, May 18, 2010 Chevron North Sea has awarded Sevan Marine a contract to conduct a study for the potential application of a Sevan floating platform for the Alder project.

Sevan, Ruhrgas Sign LOI for FPSO for Huntington Development
Tuesday, May 04, 2010 Sevan and E.ON Ruhrgas have entered into a LOI for the potential use of the FPSO Sevan Voyageur as the production unit for the Huntington field in Block 22/14 of the UK continental shelf.

Sevan Restructures FPSO Bank Facility
Tuesday, March 16, 2010 Sevan has reached a mutual agreement that provides the company with the required flexibility to find a new contract for FPSO Sevan Voyageur, after the expiry of the existing charter contract.

Sevan Wins Study Contract for Luno Project in Norwegian Sea
Tuesday, February 23, 2010 Lundin has awarded Sevan Marine a study of the potential application of a Sevan production unit for the Luno field development in the Norwegian North Sea.

Hyundai Heavy Seals $1.1B Deal to Supply Goliat FPSO
Monday, February 08, 2010 Hyundai Heavy Industries has secured a $1.1 billion tender to build the Goliat FPSO for Eni Norge.

Eni, Sevan Ink Project Services Contract for Goliat FPSO
Friday, January 15, 2010 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 project.

BG Norge Taps Sevan Marine for Feasibility Study
Tuesday, October 13, 2009 BG Norge has awarded Sevan Marine a study focused on demonstrating the feasibility of the Sevan cylindrical FPSO as part of the concept selection work being done to evaluate one of their discoveries.

StatoilHydro Taps Sevan for Cylindrical FPSO Feasibility Study
Thursday, October 08, 2009 StatoilHydro has awarded Sevan Marine a contract to conduct a study focused on scale model testing aimed at verifying the feasibility of the Sevan cylindrical FPSO using steel catenary risers for harsh deepwater application.

StatoilHydro Awards Sevan Study Contract for Potential FPSO
Wednesday, August 26, 2009 StatoilHydro has awarded Sevan Marine a contract to conduct a study for the potential application of a Sevan floating platform for an undisclosed field development.

Wood Group Appointed Duty Holder for FPSO Sevan Voyageur
Friday, August 07, 2009 Wood Group Engineering (North Sea) Ltd has been appointed duty holder for the FPSO Sevan Voyageur by Premier Oil, the licencee for the Shelley field in the central UK North Sea.

Sevan Drilling Says Hello to New CFO
Thursday, July 02, 2009 Jon Willmann will join Sevan as Vice President Finance/CFO Sevan Drilling ASA with effect from August 1, 2009.

Eni, Sevan Ink Firm Technology License Agreement for Goliat FPSO
Thursday, April 16, 2009 Eni Norge and Sevan Marine signed a firm Technology License agreement for the Sevan 1000 FPSO for the development of the Goliat field the Barents Sea.

Sevan, Premier Agree on Continued Use of Voyageur FPSO at Shelley Devt
Tuesday, April 14, 2009 Sevan has entered into a MOU with Premier for the continued provision and operation of the FPSO Sevan Voyageur by Sevan for the development of the Shelley field in the event that Premier purchases Oilexco or the Shelley field.

Sevan Continues Negotiations with Shipyard Concerning 2 FPSOs
Friday, March 13, 2009 In reference to FPSO Sevan no. 4 and 5, Sevan informs that negotiations with the Jiangsu Hantong Ship Heavy Industry shipyard about the further progress of the construction of the two units are ongoing.

Kanfa to Build LNG Production Topside for World's First FLNG Vessel
Thursday, January 22, 2009 Kanfa signed a contract with Samsung Heavy Industries in Korea for the development of a LNG production topside to the world's first Floating Liquified Natural Gas Production Vessel.

Sevan Meets with Oilexco's Admin, Prepares FPSO Voyageur for First Oil
Thursday, January 08, 2009 Sevan has met with Oilexco North Sea's new administrators, and continues the final commissioning activities on FPSO Sevan Voyageur, preparing the unit for first oil on the Shelley field.

Sevan Voyageur Sets Sail for Shelly Field Operations
Monday, December 01, 2008 The FPSO Sevan Voyageur has set sail for the Shelly Field in the Central UK North Sea where it will be deployed under a 5+5 year contract.

Sevan Secures Construction Financing for 2 Deepwater Semisubs
Wednesday, October 29, 2008 Sevan signed a mandate letter with two leading financial institutions to arrange construction financing of up to $1 billion that converts into a 6-year amortizing term loan following delivery of two deepwater drilling units.

FPSO Sevan Voyageur Financed and Ready for Shelley Field Ops
Wednesday, October 29, 2008 Sevan Marine advised that the Capital Markets group of GE Commercial Finance have completed the syndication of a US $300 million senior debt project finance facility for the FPSO Sevan Voyageur.

Sevan Hummingbird to Nest at Chestnut Field for 2 Years
Friday, October 10, 2008 Following completion of the first 100,000 bbls of oil production, Venture Production has informed Sevan that the FPSO Sevan Hummingbird has been formally accepted and is on full rate from September 28th.

FPSO Sevan Piranema, Petrobras Celebrate 1 Year Anniversary
Friday, October 10, 2008 The FPSO Sevan Piranema has been producing oil for Petrobras for its first full year. The unit is located on the Petrobras operated Piranema field, off the coast of Aracaju, in the state of Sergipe, Brazil.

Oskar Mykland Assumes Position as Sevan Marine's New CFO
Monday, September 29, 2008 Sevan Marine ASA announced that Oskar Mykland will join Sevan as with effect from January 1, 2009.

Sevan Hummingbird Starts-Up Oil Production at Chestnut
Monday, September 22, 2008 The FPSO Sevan Hummingbird has commenced oil production on Venture's Chestnut field, in the central UK North Sea.