Under the charter contract with Centrica Energy Upstream, the charter is automatically extended by six months unless notice is given six months prior to the expiration of the contracted period. The expiration of the currently contracted period was September 28, 2011, and the charter for FPSO Sevan Hummingbird has been extended until March 28, 2012. Day rates remain unchanged in the extension period.
FPSO Sevan Hummingbird has been operating on the Chestnut field for Centrica since September 2008 under a fixed 2.5 year contract with extension options. This is the second six month option to be utilized.
The information in this announcement is subject to the disclosure requirements of the Norwegian Securities Trading Act section 5-12 and/or the Oslo Børs – 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 Børs with ticker SEVAN.
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Source:Sevan Marine,March 30, 2011;