Sevan Advances Exxon FLNG Study
Norwegian contractor Sevan Marine said May 23 that the first work order has been issued under a framework agreement agreed in 1Q2017 with ExxonMobil for a floating liquefaction study. Sevan said the current Exxon work order is for some 5,000 hours of engineering to be done in 2017.
Exxon said in February that the study, making use of Sevan’s cylindrical hull design, is for its Scarborough FLNG project offshore Australia .
In a May 23 briefing, Woodside said it and operator Exxon hope to take a final investment decision for Scarborough at end-2020; both producers are 50% partners in the project. Scarborough resources (at 100%) are 6.9 trillion ft3, and its production potential is 1.1bn ft3/d.
Scarborough asset fields, including the Jupiter and Thebe fields (Map credit: Woodside)
Sevan Marine reported its net loss from continuing operations in 1Q2017 was kroner 11.9mn ($1.4mn), an improvement from its net 1Q2016 loss of NKr 102.3mn ($12.2mn). It also said May 23 it has begun legal action against Australia’s Logitel Offshore and Canada’s Teekay to recover $70mn of loans; arbitration hearings are scheduled for autumn 2017. Teekay is Sevan Marine’s largest shareholder with 43.52% equity.
Mark Smedley