On the basis of the mandatory offer of Teekay Service Holdings Cooperatif U.A. (“Teekay”) for shares in Sevan Marine ASA (“Sevan Marine” or the “Company”) being made in concert with the Board of Directors of Sevan Marine pursuant to an agreement on the restructuring of the Company, Oslo Børs, in its capacity as take-over supervisory authority, has decided that the statement on the mandatory offer pursuant to the Norwegian Securities Trading Act section 6-16 shall be made by an independent competent expert engaged by the Company. On this basis the Company engaged BDO AS to issue the statement on the mandatory offer.

Please see attached BDO AS’ statement on Teekay’s mandatory offer.

 BDO Opinion

Sevan Marine ASA

Contacts:

Marit Ytreeide, Press Contact (Media)

+47 901 28 308 mobile

Carl Lieungh, CEO, Sevan Marine ASA (Media)

+47 374 04 000 office

Reese McNeel, CFO, Sevan Marine ASA (Analysts)

+47 374 04 000 office

Company web-page: www.sevanmarine.com

This information is subject of the disclosure requirements according to the Norwegian Securities  Trading Act Section 5-12.