Operating revenue from continued operations for first quarter 2012 amounted to USD 24.4 million. EBITDA was positive with USD 10.7 million, and net profit from continued operations was USD 12.3 million.

Equity at the end of first quarter 2012 amounted to USD 133.4 million and remaining interest-bearing debt continued operations was USD 19.3 million.

 Q1 Report Sevan Marine ASA

Carl Lieungh (CEO) and Kjetil Vangsnes (CFO) will today at 1:00 p.m. (CET) give a presentation of the results at Shippingklubben, Haakon VII`s gate 1, Oslo.

The presentation will be in English.

The presentation will also be broadcasted LIVE on http://www.sevanmarine.com/.

It is recommended that you log on to the webcast 5 minutes in advance of the presentation.

If you wish to attend the presentation in Oslo, please confirm by email: This e-mail address is being protected from spambots. You need JavaScript enabled to view it

If you wish to call-in to listen to the presentation, please find the call-in details attached.

 Call in details

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, based on its patented cylindrical floater technology. Sevan Marine ASA is listed on Oslo Børs with ticker SEVAN. For more information, please refer to www.sevanmarine.com.

For more information please contact:

Marit Ytreeide, Press Contact (Media)
+47 901 28 308 mobile

Carl Lieungh, CEO, Sevan Marine ASA (Media)
+47 37 40 40 00 office

Kjetil Vangsnes, CFO, Sevan Marine ASA (Analysts)
+47 37 40 40 00 office