ExxonMobil commissions Sevan for floating LNG studies

Sevan Marine has entered into a long-term framework agreement with ExxonMobil concerning its cylindrical hull technology.

Offshore staff

ARENDAL, NorwaySevan Marine has entered into a long-term framework agreement with ExxonMobil concerning its cylindrical hull technology.

The two parties have worked together since 2015, when Sevan was awarded a feasibility study to explore the use of its hull shape for a floating LNG (FLNG) development.

Currently Sevan is working on a follow-up study focused on the hull and marine aspects.

Total value of the framework agreement is subject to the calling-off of individual orders. Sevan expects the call-off for the first order later this month, involving the continuation of engineering and FLNG design work.

Reese McNeel, CEO of Sevan Marine, said: “Sevan Marine has received substantially increased interest in its unique design from several oil companies over the last months and the company believes this is a reflection of a changing market place, increased willingness of large oil companies to consider different technologies, and Sevan Marine’s own business development efforts.”

02/24/2017

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