Norway’s Sevan Marine yesterday reported that its operating revenue from continued operations for fourth quarter 2012 amounted to USD 36.8 million. EBITDA was negative with USD 2.5 million, and due to impairment charge of USD 51 million, operating loss was USD 53.6. Net profit from continued operations was negative with USD 43.2 million. Equity at [...]
Sevan Marine ASA has announced that the tow of the FPSO “Voyageur Spirit” from the Nymo upgrade yard at Eydehavn, Arendal to the Huntington Field in the UK sector of the North Sea has commenced. The “Voyageur Spirit” let go of the moorings at 07:50 hrs Sunday morning, September 30, and is estimated to arrive [...]
October 1, 2012 | Posted in
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Bladt, an international steel contractor specializing in large-scale and highly complex steel structures just finished the fabrication of one suction anchor for their Norwegian client Sevan Marine. The suction anchor is very similar to the 13 anchors Bladt fabricated to Sevan Marine in 2011, and the suction anchor will also head for the same destination the [...]
![Teekay to Acquire Three FPSOs from Sevan Marine, Norway]()
Teekay Corporation (Teekay or the Company) today announced that it has reached an agreement in principle to acquire three floating production storage and offloading (FPSO) units from Sevan Marine ASA (Sevan), a Norway-based developer, owner and operator of FPSO units, and acquire an equity interest in a recapitalized Sevan. Under the terms of the agreement [...]
![Norway: Sevan Marine Secures Short-term Financing]()
Reference is made to the press release issued by Sevan Marine ASA (the “Company”) on 11 July 2011. The Company announces that it has entered into a USD 36.1 million bond loan agreement with Norsk Tillitsmann ASA (“Norsk Tillitsmann”) acting on behalf of a group of holders of the Company’s existing bonds. The loan will [...]
July 20, 2011 | Posted in
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![Norway: Sevan Marine Provides FPSO Technical Uptime for June]()
Sevan Marine ASA , a company specializied in owning, operating and licensing FPSOs and drilling units, based on its patented cylindrical floater technology announces fleet technical uptime for May 2011. Technical Uptime for June 2011 was as follows: FPSO Sevan Piranema 98 (%) FPSO Sevan Hummingbird 99 (%) Technical Uptime as indicated is based on [...]
![Norway: Sevan Marine Announces FPSOs Technical Uptime for May 2011]()
Sevan Marine ASA , a company specializied in owning, operating and licensing FPSOs and drilling units, based on its patented cylindrical floater technology announces fleet technical uptime for May 2011. Technical Uptime for May 2011 was as follows: FPSO Sevan Piranema 99 (%) FPSO Sevan Hummingbird 100 (%) Technical Uptime as indicated is based [...]
June 1, 2011 | Posted in
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![Norway: Sevan Marine Plans USD 25 Million Investment for FPSO Upgrade]()
Sevan Marine ASA , a company specialized in owning, operating and licensing FPSOs and drilling units, based on its patented cylindrical floater technology announces fleet commercial uptime. In Q1 2011, the FPSO Sevan Piranema had a commercial uptime of 88% due to continued problems with the gas cooling and booster compressor systems. The Company [...]
![Norway: Sevan Marine Appoints New CEO]()
In accordance with announcement made on March 25, 2011, and in relation to the listing of Sevan Drilling ASA, Mr. Jan Erik Tveteraas will retire from the position as CEO of Sevan Marine ASA to take on the position as CEO of Sevan Drilling ASA. Mr. Tveteraas was a founding shareholder of Sevan Marine [...]
![UK: Centrica Extends Charter Contract for Sevan Hummingbird FPSO]()
Under the charter contract with Centrica Energy Upstream, the charter is automatically extended by six months unless notice is given six months prior to the expiration of the contracted period. The expiration of the currently contracted period was September 28, 2011, and the charter for FPSO Sevan Hummingbird has been extended until March 28, 2012. [...]
