courtesy Sevan Marine

Norway-based floating production specialist Sevan Marine declared Thursday that it still has options to build eight more of its “round rigs” at Chinese Hantong and COSCO shipyards, with 15 potential oil-company assignments lined up.

Two storage hulls, an SSP 300 and an SSP 600, have been ordered and two will enter service shortly after fittings and testing. Yet, although the company order backlog passed the $2.3 billion mark in April, Sevan managers could only report a $16.6 million loss, with floating-floating production day rates yet to be earned.

Subsistence, standby rates for the Piranema floating producer helped revenues to $10.3 million the first three months of 2007.

Sevan’s SSP-design business wields total assets worth $974 million, nearly one-third cash, and the sales points of its cylindrical-concept are getting round to oil companies: less steel, less piping, less engineering, less time in the yard.

Sevan rigs are envisioned in use as gas-treatment platforms, sub-sea construction vessels and floating hotels.

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