Offshore staff
TANANGER, Norway --Sevan Marine has secured financing for construction of a new FPSO for Oilexco's Shelley development in the UK central North Sea.
Under the agreement, Sevan Marine will receive $150 million of financing toward construction of the vessel at the Yantai Raffles Shipyard in China and a five-year term loan of $300 million (post-delivery) of the FPSOVoyageur.
The cylinder-shaped platform is nearing completion, and toward year-end will be transported on a dry-tow vessel from China to a shipyard in Europe for topside hookup and commissioning.
TheVoyageur should be installed on the Shelley field next year, where it will operate under a five-year contract with Oilexco.
09/24/2007
