Norway: Sevan Marine Announces Fleet Technical Uptime for March 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 March 2011.

Technical Uptime for March 2011 was as follows:

FPSO Sevan Piranema 90
FPSO Sevan Hummingbird 99
Sevan Driller 95

Technical Uptime as indicated is based on preliminary ‘best estimates’. Subsequent adjustments may occur, but is not expected to be significant.

Presently, Sevan Marine has four FPSO contracts, including the Goliat Sevan 1000 FPSO, and three drilling contracts with clients.

The Company’s primary focus is to create value for its shareholders by delivering products and solutions to the offshore industry, utilizing its core competencies within the areas of design, engineering and project execution. The basis for the products and solutions is the Sevan technology.


Source:Sevan Marine , April 1, 2011;

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