Venture and Sevan rejig floater deal
Venture Production and Sevan Marine have revised their deal for a second
cylindrical floating production, storage and offloading unit.
Under the revised contract, Venture may deploy the Sevan 300 unit on any of
its fields in the North Sea. Venture will notify Sevan on which field it
will utilise the unit.
The process modules will be designed by Sevan subsidiary Kanfa, based on the
specific field requirements.
A note written by Carnegie analyst Frederik Lunde said that the old contract
covered the Sevan 300-4, but as Venture has not yet received sanction for
the fields it was considering utilising the unit on, the Sevan 300-5, which
is scheduled for delivery in early 2010, is likely to be used instead.
Lunde added that the pair have agreed on a bareboat fixed dayrate of $150,000.
Sevan provided Venture with the Sevan Hummingbird floater, also a Sevan 300
FPSO. The Hummingbird has been installed and is being commissioned on the
Chestnut field in the UK Central North Sea.
06 May 2008 11:20 GMT
| last updated:
06 May 2008 11:20 GMT
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