Huntington floater LoI extended

Sevan Marine ASA and E.ON Ruhrgas UK E&P have agreed to extend a Letter of Intent (LoI) concerning an FPSO for the Huntington field development in the UK North Sea.

Offshore staff

ARENDAL, Norway -- Sevan Marine ASA and E.ON Ruhrgas UK E&P have agreed to extend a Letter of Intent (LoI) concerning an FPSO for the Huntington field development in the UK North Sea.

The current LoI for the Sevan Voyageur will now run until Oct. 1, 2010, allowing the parties to continue negotiations and finalize all contractual documentation.

E.ON operates Huntington in partnership with Premier Oil, Altinex Oil (UK), and Carrizo Oil & Gas.

The Huntington partners also have agreed to continue to fund certain costs incurred by Sevan and long-lead items for the upgrade work, to be performed at the Nymo yard in Arendal, in order to maintain the schedule for first oil.

08/18/2010

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