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Sevan Marine enters long-term framework agreement with ExxonMobil

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LNG Industry,

Sevan Marine ASA has announced that it has entered into a long-term framework agreement with ExxonMobil for the provision of services and use of its cylindrical hull technology.

Sevan Marine and ExxonMobil have worked together since 2015, when the company was awarded a feasibility study to explore the use of Sevan Marine’s cylindrical hull for FLNG development. Sevan Marine is currently working on a follow up study to focus on the hull and marine aspects of its unique cylindrical design.

The CEO of Sevan Marine ASA, Reese McNeel, said: “We are delighted to have secured this long term frame agreement with ExxonMobil. It is a further milestone in the development of Sevan Marine, its cylindrical hull design and its engineering capabilities. We look forward to continuing to support ExxonMobil in the years to come.

“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.”

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