Further to announcement made on November 5, 2010, and following attempts to release the locked ram at the seabed, Sevan has, in accordance with procedures, decided to pull the BOP to the surface for repair of the jammed ram. Preparations for the pulling operations are ongoing. Estimated total downtime since the rig came off hire on November 2 is about 20 days.
The information in this announcement is subject to the disclosure requirements of the Norwegian Securities Trading Act section 5-12 and/or the Oslo Bors – Continuing Obligations.
Sevan Marine ASA is specializing in owning, operating and licensing FPSOs and drilling units, based on its patented cylindrical floater technology. Sevan Marine ASA is listed on Oslo Bors with ticker SEVAN.