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Press Release

Update regarding timing of SembCorp and Teekay transactions

Reference is made to the press releases from June 8, 2018, June 12, 2018 and July 06, 2018, regarding the agreement to divest substantial parts of Sevan Marine’s business to Sembcorp Marine Integrated Yards Pte. Ltd. ("SCM") and the subsequent offering of Teekay’s...

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Expiration of notice period for share capital reduction

Reference is made to the stock exchange notice published by Sevan Marine ASA on 4 June 2018 regarding the commencement of the creditor notice period for the share capital reduction as resolved by the annual general meeting held on 24 May 2018. The creditor notice...

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Second quarter and first half 2018 results

Lysaker, July 10, 2018, Summary and highlights from Sevan Marine’s second quarter 2018: On June 07, 2018, Sevan Marine entered into an agreement to sell its intellectual property, shares in HiLoad LNG AS and to transfer certain other assets and obligations, including...

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Update regarding SembCorp transaction

Reference is made to the press releases from June 8, 2018 and June 12, 2018 regarding the agreement to divest a part of Sevan Marine’s business to Sembcorp Marine Integrated Yards Pte. Ltd. ("SCM"). SCM has agreed to increase its offer from USD 28 million to USD 39...

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Notice of Extraordinary General Meeting

Reference is made to the stock exchange announcement made by Sevan Marine ASA (the "Company") on 8 June 2018 with regards to that Sevan Marine has entered into an agreement to divest a substantial part of its business to SembCorp Marine. The Board of Directors of...

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Resignation of board member in Sevan Marine ASA

Board member Bjørn Sund has given notice of his resignation as a member of the board of directors of Sevan Marine ASA with immediate effect due to personal reasons. ******* Sevan Marine is a technology, design and engineering company. The company is developing,...

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Commencement of notice period for share capital reduction

Reference is made to the stock exchange announcement made by Sevan Marine ASA (the "Company") on 24 May 2018 regarding the annual general meeting for 2018 (the "AGM"). The Norwegian Register of Business Enterprises (the "NRBE") has today announced in the public...

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New board members in Sevan Marine ASA

The Annual General Meeting in Sevan Marine ASA was held on May 24th, 2018. Mr. Bjørn Sund, Mrs Hilde Ådland and Mrs Astrid Jørgenvåg were elected as new board members. Mr. Erling Øverland (Chairman), Mr. Torstein Sanness and Mrs. Kathryn Baker were re-elected as...

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Minutes from Annual General Meeting

Sevan Marine ASA has today on May 24, 2018, held its Annual General Meeting. Attached to this announcement are the minutes of the Annual General Meeting in Norwegian and translation into English.  All proposals on the agenda were approved. With respect to the...

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First quarter 2018 results

Lysaker, May 23 2018, Summary and highlights from Sevan Marine’s first quarter 2018: Adjusted EBITDA, excluding one-off items, was NOK 15.6 million, an improvement from negative NOK -4.0 million in the fourth quarter.   Operating revenue was NOK 30.8 million in the...

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Nomination Committee Proposal

Sevan Marine refers to the earlier Notice of Annual General Meeting. The Annual General Meeting in Sevan Marine ASA will be held on Thursday, 24 May 2018 at 10:00 am (CET) at the Company’s offices in Lysaker Torg 12, 1366 Lysaker, Norway. Attached as appendix to this...

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ØKOKRIM concludes Brazil investigation and dismisses case

Sevan Marine refers to earlier stock exchange notices regarding the investigation into potential corruption involving contracts awarded to Sevan Marine in the period 2005 to 2008 in Brazil. In June 2015, the board of Sevan Marine ordered an independent corporate...

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Notice of Annual General Meeting

The Board of Directors of Sevan Marine ASA has convened the Annual General Meeting in Sevan Marine ASA on Thursday 24 May 2018, at 10:00 a.m. (CET) at the Company's offices at Lysaker Torg 12, 1366 Lysaker, Norway. Attached as appendices to this announcement are (in...

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Sevan Marine ASA: Annual Report 2017

Please find attached the Annual Report 2017 for Sevan Marine ASA. Annual Report 2017 ******* Sevan Marine is a technology, design and engineering company. The company is developing, designing and delivering cost effective offshore solutions based on its unique...

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Share Option Program

On the basis of the approval by the Annual General Meeting of May 24, 2017 to authorize the Board of Sevan Marine to issue new shares to employees under a long-term incentive program, the Board has resolved to issue options to employees of the Company. A total of...

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Sevan Marine ASA – Fourth quarter 2017 results

  Lysaker, February 28th 2018, Summary and highlights from Sevan Marine’s fourth quarter 2017: Operating revenue was NOK 16.3 million in the fourth quarter, up from NOK 12.8 million in the third quarter 2017. The increase was mainly due to Dana Western Isles royalty...

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Shell Penguins field redevelopment contract

Shell has announced the final investment decision for the Penguins field redevelopment project in the UK sector. The decision includes the construction of a new-build Sevan Marine designed cylindrical FPSO. With the final investment decision, Sevan Marine will receive...

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Third quarter 2017 results

Third quarter 2017 results Oslo, November 21st 2017, Summary and highlights from Sevan Marine’s third quarter 2017: Operating revenue was NOK 12.8 million in the third quarter and mainly related to engineering activity on the ExxonMobil FLNG, Goliat, Dana...

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Western Isles FPSO First Oil

Sevan Marine ASA would like to congratulate Dana Petroleum on the achievement of first oil from the Dana Western Isles FPSO. The Sevan Marine based FPSO built in China brings the total number for Sevan Marine cylindrical units operating in the...

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Logitel Bond Loan update

Reference is made to the related press release from October 9, 2017. Sevan Marine has decided to appeal the Oslo District Court decision in relation to the USD 60 million loan granted to Logitel Offshore Pte Ltd. ******* Sevan Marine ASA is specializing in...

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Settlement in Logitel Arbitration

Sevan Marine ASA has entered into a settlement agreement with Logitel Offshore Pte. Ltd and Teekay Offshore Partners LP with respect to the disputed Fourpartite Agreement which was the subject of an ongoing arbitration process. Logitel Offshore Pte. Ltd...

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Second quarter and first half 2017 results

Oslo, 29 August 2017, Summary and highlights from Sevan Marine’s second quarter 2017: * Operating revenue for continued operations was NOK 13.1 million in the second quarter, up from NOK 12.1 million in the first quarter 2017. The increase was due to...

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