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 preliminary ‘best estimates’. Subsequent adjustments may occur, but is not expected to be significant.

Sevan Marine is a Norwegian company that constructs, owns and operates floating offshore installations. The main product is cylinder platforms used for floating production and drilling.

The company is based in Arendal but also has offices in Tananger, Trondheim, Asker, Rio de Janeiro, Aracaju and Singapore. It is listed on the Oslo Stock Exchange.

Source: Sevan Marine, July 1, 2011;

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