Brazil: Sevan Driller Still Off-Hire Due to BOP Issues


Further to announcements made on November 5 and 8, 2010, the securing of the well has been completed and the pulling of the BOP to the surface has started. The well has been cemented and plugged according to Petrobras’ safety procedures.

On deck, the BOP will be inspected and repaired and then lowered to the seabed. According to the current schedule, Sevan estimates that the total process will take 1-2 weeks longer to complete compared to the initial estimate.

On November 2, during routine testing of the BOP, the locking system of one of the rams jammed in locked position. Sevan Marine has since been working together with Petrobras and the supplier, Cameron, to find a solution to the problem.

Sevan Marine ASA is specializing in owning, operating and licensing FPSOs and drilling units, based on its patented cylindrical floater technology. Sevan Marine ASA is listed on Oslo Børs with ticker SEVAN.

Source:Sevan Marine , November 19, 2010;

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