KANFA AS, a subsidiary of Sevan Marine ASA, is pleased to announce that it has been awarded a LOA for the Engineering, Procurement and Construction (“EPC”) contract for four process modules for the FPSO Yinson Production. The contract is expected to have a duration of 15 months with a contract value of approximately USD 50 million.

The FPSO Yinson Production will be deployed at the recently sanctioned Offshore Cape Three Points Block (OCTP), located in the Tano Basin, around 60 km off the cost of Ghana. The OCTP Block is operated by ENI’s subsidiary ENI Ghana and the joint venture partners; Vitol Upstream Ghana Limited and Ghanaian state-owned Ghana National Petroleum Company.

This contract award marks the continued recognition of the KANFA Group as a leading independent process, design and engineering group for the Offshore Oil & Gas Industry.

About Sevan Marine

Sevan Marine ASA is specializing in design, engineering and project execution of floating units for offshore applications, based on its patented cylindrical floater technology. Sevan Marine ASA is listed on Oslo Børs with ticker SEVAN.