Acquisition of 20% equity stake in FPSO Sevan Hummingbird

Centrica Energy Upstream ('Centrica') and Sevan Marine ASA ('Sevan') have,

through their respective wholly-owned subsidiaries, entered into an agreement

for Sevan to acquire Centrica's 20% equity interest in FPSO Sevan Hummingbird

for a net consideration of USD 39 million.

Following the transaction, Sevan will become the 100% indirect owner of FPSO

Sevan Hummingbird. Centrica will retain the right to 20% of any profit realized

by Sevan in the event of a sale of the FPSO within five years at a higher price

than the transaction value. The transaction closed today.

FPSO Sevan Hummingbird has been operating for Centrica since September 2008

under a fixed 2.5 year contract with extension options for up to 7 years.

The information in this announcement is subject to the disclosure requirements

of the Norwegian Securities Trading Act section 5-12 and/or the Oslo Børs -

Continuing Obligations.

Sevan Marine ASA is specializing in owning, operating and licensing FPSOs and

drilling units, based on its patented cylindrical floater technology. Sevan

Marine ASA is listed on Oslo Børs with ticker SEVAN.

For more information, please refer towww.sevanmarine.com.

For further information, please contact:

Jan Erik Tveteraas, CEO, Sevan Marine ASA (Media)

+47 37404000 office

+47 95214925 mobile

Birte Norheim, VP Finance, Sevan Marine ASA (Analysts)

+47 37404201 office

+47 95293321 mobile

[HUG#1437197]

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