Sevan FPSO concept chosen for potential UK project

Offshore staff

ARENDAL, NorwaySevan Marine says its cylindrical FPSO concept has been selected for a UK sector floating production prospect, and it expects to enter into a license agreement  before year-end.

Payments under the agreement will remain subject to the field developers’ final investment decision and the start of construction of the unit, not anticipated before the second half of 2016.

Recently, an unnamed oil major also awarded Sevan Marine a paid feasibility study to explore use of its cylindrical hull for a floating LNG (FLNG) development.

This study too should be completed by year-end and could lead to further paid study work in 2016. Sevan remains optimistic of securing further paid studies both for FLNG concept and involving use of the HiLoad offloading technology as an LNG re-gasification unit.

11/11/2015

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