Sevan Marine sheds KANFA Aragon stake to focus on cylindrical hull tech

Sevan Marine has announced the disposal of its 50% stake in KANFA Aragon to Sembcorp Marine in an effort to reduce complexity and costs. 

The stake in KANFA Aragon, a provider engineering solutions and systems for recovery, conditioning, conversion, and transport of natural gas and oil vapors for FPSOs market, was sold for cash consideration of NOK 20 million ($2.37 million).

Sevan Marine said that the transaction was completed and funds received on Tuesday, June 28, 2016.

The sale will generate a one-time financial gain of approximately $1 million in the Sevan Marine Group in the second quarter of 2016.

“The disposal represents a further positive step in Sevan Marine’s efforts to reduce complexity, reduce cost and increase focus on its core cylindrical hull technology,” the company said on Tuesday.

Share this article

Follow Offshore Energy Today

Events>

<< Jun 2019 >>
MTWTFSS
27 28 29 30 31 1 2
3 4 5 6 7 8 9
10 11 12 13 14 15 16
17 18 19 20 21 22 23
24 25 26 27 28 29 30

OWI LATAM 2019

Over the two-day conference, 25+ expert speakers will share exclusive insight on how to develop an integrity, production and P&A strategy…

read more >

Nigeria Oil & Gas Conference & Exhibition 2019

The annual meeting once again proved to be a great success, gathering over 700 industry professionals…

read more >

08th OIL & GAS AFRICA 2019 CONFERENCE

OIL & GAS AFRICA is one of the most prime regional & international Oil and Gas conferences in East Africa…

read more >

Gas Indonesia Summit 2019

Gas Indonesia Summit & Exhibition is returning for the fourth edition in Jakarta…

read more >

Jobs>

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply