Sevan secures six options

Sevan Marine ASA in Norway has secured options to build six additional Sevan drilling units (or other Sevan units) with China?s COSCO shipyard group. Sevan is currently building the cylinder shaped ultra deepwater, dynamically positioned ?Sevan Driller? at COSCO’s Nantong shipyard and intends to build the two recently contracted deepwater drilling units to be provided to Petrobras SA and ONGC, respectively, at the same shipyard.

“The agreement with COSCO puts us in an excellent position to take advantage of the expected strong market for deepwater drilling units,” says Jan Erik Tveteraas, CEO of Sevan Marine ASA.

Sevan has developed a cylinder shaped floater, suitable in all offshore environments. Presently the company has four floating production, storage and offloading units (FPSOs) and one drilling unit contracted to clients. The company is also developing other application types for its cylindrical Sevan hull, including floating LNG production and power plants with CO2 capture.