According to Sevan Marine, operating revenues were $24.3 million for the third quarter of 2008, compared to $24 million for the same period of 2007. Operating profit was $15.7 million, compared to $23.1 million for the third quarter of 2007.

As of September 30, 2008, total assets amounted to $1.95 billion, compared to $1.28 billion in the comparable period of 2007. Cash and cash equivalents amounted to $160.3 million compared to $258.8 million in the comparable period of 2007.

Sevan Marine is engaged building, owning and operating floating units for offshore applications. The Company has developed a cylinder shaped floater, for all offshore environments. Presently Sevan Marine has four floating production, storage and offloading units (FPSOs) and three drilling units contracted to clients, claims the company. The Company is also developing other application types for its cylindrical Sevan hull, including floating LNG production and power plants with CO2 capture.

 

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