Sevan Snags Study Contract for Chevron's Alder Project

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, now under consideration by operator Chevron (70% W.I.) and its co-license holders Conoco Phillips (25% W.I.) and GDF SUEZ (5% W.I.).

The study will be performed during 2010 and will be focused on demonstrating the feasibility of the Sevan Cylindrical FPSO for the field located in the UK Central North Sea. Study scope will cover hull sizing and configuration, topsides engineering, mooring, motion and stability analysis, marine operations, risk identification as well as cost and schedule estimation.