Brazil: Sevan Driller Could Be Back in Action Soon

Further to announcements made on November 5, 8 and 19, 2010, all ten ST locks on the BOP have been replaced. The BOP has been lowered to the seabed and testing has been completed. In cooperation with Petrobras, preparations are ongoing to recommence drilling operations, following which the rig will be back on dayrate.

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.

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Source: SevanMarine, December 6, 2010;

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