ARENDAL, Norway – Sevan Marine says studies continue for a new FPSO project in UK waters that will deploy the company’s cylindrical hull concept.
However, payments under the license agreement remain subject to the field developers’ final investment decision and start of construction of the unit, which are not expected now until the second half of 2016.
In addition, the company is providing engineering and site support services for the Goliat, Logitel Offshore, and Dana Western Isles projects.
Sevan says it is entitled to a variable license fee linked to production from Western Isles in the UK’s East Shetland basin. Dana will not start production until the second half of 2017 at the earliest.
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