Sevan Marine has entered a long-term framework agreement with ExxonMobil Corp. (NYSE: XOM) for the use of Sevan Marine’s cylindrical hull technology and services.
The value of the framework agreement is subject to the calling off of individual orders, Sevan Marine said in a news release. The company said it expects the first order under this agreement, involving the continuation of engineering and FLNG design work, to be called off later in February.
The two companies have worked together since 2015. Projects have included a feasibility study exploring the use of Sevan Marine’s cylindrical hull for a FLNG development. A follow-up study centered on the hull and marine aspects of Sevan Marine’s unique cylindrical design is currently underway, the company said.
Recommended Reading
For Sale, Again: Oily Northern Midland’s HighPeak Energy
2024-03-08 - The E&P is looking to hitch a ride on heated, renewed Permian Basin M&A.
E&P Highlights: Feb. 26, 2024
2024-02-26 - Here’s a roundup of the latest E&P headlines, including interest in some projects changing hands and new contract awards.
Gibson, SOGDC to Develop Oil, Gas Facilities at Industrial Park in Malaysia
2024-02-14 - Sabah Oil & Gas Development Corp. says its collaboration with Gibson Shipbrokers will unlock energy availability for domestic and international markets.
E&P Highlights: Feb. 16, 2024
2024-02-19 - From the mobile offshore production unit arriving at the Nong Yao Field offshore Thailand to approval for the Castorone vessel to resume operations, below is a compilation of the latest headlines in the E&P space.
TotalEnergies Acquires Eagle Ford Interest, Ups Texas NatGas Production
2024-04-08 - TotalEnergies’ 20% interest in the Eagle Ford’s Dorado Field will increase its natural gas production in Texas by 50 MMcf/d in 2024.