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Press Release

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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Positive outcome of 2012 tax case

As announced on January 19, 2016, Sevan Marine received a decision from Skatt Sør (Norwegian tax authorities) that the tax assessment for 2012 was adjusted for certain deductions related to losses on intra-group receivables following the sale of FPSO...

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Sevan Marine sells its shares in KANFA AS to Technip Norge AS

With reference to Sevan Marine’s fourth quarter report issued 21 February 2017, Sevan Marine informed that the company had received a formal notification of Technip Norge’s intention to exercise their option to buy Sevan Marine’s remaining 51% shareholding...

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Minutes from Annual General Meeting

Sevan Marine ASA has today on May 24, 2017, held its Annual General Meeting. All the proposals from the Board of Directors to the General Meeting were approved. Attached to this announcement are the minutes of the Annual General Meeting in Norwegian and...

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First Quarter 2017 Results

Oslo, 23 May 2017) Sevan Marine reported revenue for continued operations in the first quarter 2017 of NOK 12.1 million, as the company continued to support two cylindrical FPSO developments for the UK Continental Shelf, one cylindrical FLNG project for...

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Revised proposal from the Nomination Committee

Please find attached the revised proposal from the Nomination Committee. Tilleggsinnstilling-fra-valgkomiteen-18-may-2017_NOR Revised-proposal-from-the-Nomination-Committee-May-18-2017_ENG ******* Sevan Marine ASA is specializing in design, engineering and...

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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 Wednesday 24 May 2017, at 10:00 a.m. (CET) at the Company's offices in Verkstedveien 3, 0277 Oslo, Norway. Attached as appendices to this announcement...

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Annual Report 2016

Please find attached the Annual Report 2016 for Sevan Marine ASA. Annual Report 2016 ******* Sevan Marine ASA is specializing in design, engineering and project execution of floating units for offshore applications, based on its cylindrical floater...

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SEVAN MARINE agrees FPSO Piranema ANP fine settlement

Sevan Marine ASA has agreed a settlement with Piranema LLC in relation to ANP fines incurred to date. As previously communicated Sevan Marine provided Piranema LLC with an indemnity against such fines in conjunction with the 2011 restructuring and sale of...

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Fourth Quarter 2016 Results

SEVAN MARINE ASA - Fourth quarter 2016 results Sevan Marine reported revenue for continued operations in the fourth quarter 2016 of USD 2.2 million, as the company continued to support two cylindrical FPSO developments for the UK Continental Shelf, one...

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