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Tuesday, 14 October, 2008, 18:40 GMT | more prices >>

Sevan secures cash



By Upstream staff 

Norway's Sevan Marine has obtained construction financing of $150 million and a $300 million five-year loan to fund the building and operation of an oil production vessel.

Sevan Marine said it signed the deal with a leading financial institution but did not name the lender.

The financing is for the Sevan Voyageur floating production, storage and offloading vessel, which is under construction at the Yantai Raffles Shipyard in China, Sevan Marine said.

The Sevan Voyageur will be deployed on the Shelley field in the central UK North Sea in 2008 under a five-year deal with Oilexco North Sea.


Monday, 24 September, 2007, 07:49 GMT  | last updated: Monday, 24 September, 2007, 07:49 GMT

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