Sevan Marine is pleased to announce that it has been awarded a study to evaluate its cylindrical hull design for application on the Wisting field development. The study is awarded by OMV Norge AS who is screening various floating alternatives for developing the Wisting discovery. The study completion is by year end 2016.



The Wisting discovery is located 310 kilometers from shore in the northern part of the Barents Sea at the Norwegian Continental Shelf. OMV Norge is the operator of Wisting (PL 537) with 25% share.

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The information in this announcement is subject to the disclosure requirements of the Norwegian Securities Trading Act section 5-12 and/or the Oslo Børs - Continuing Obligations.

Sevan Marine ASA is specializing in design, engineering and project execution of floating units for offshore applications, based on its patented cylindrical floater technology. Sevan Marine ASA is listed on Oslo Børs with ticker SEVAN. For more information, please refer to www.sevanmarine.com.


For more information please contact:

Carl Lieungh, CEO, Sevan Marine ASA
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+47 916 64 720 mobile

Reese McNeel, CFO, Sevan Marine ASA
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+47 415 08 186 mobile

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